$560K in Crypto Funds Seized from Hamas

U.S. authorities have made a significant breakthrough in disrupting Hamas' fundraising operations through cryptocurrency. The FBI seized over $560,000 from various sources linked to the terrorist organization's military wing, the Al-Qassam Brigades.

The investigation, which began around early 2019, involved tracing cryptocurrency addresses and digital infrastructure controlled by Hamas. Investigators found that the group had been experimenting with cryptocurrency fundraising since then, using Telegram and other online channels to request donations.

According to affidavits reported by AP News, the group used rotating cryptocurrency addresses and provided instructions for making anonymous payments. A key break in the case came when an FBI official identified a network soliciting cryptocurrency donations for the Qassam Brigades through a Telegram message.

The operation involved teams from the Albuquerque Field Office, New York, as well as the bureau's Counterterrorism and Cyber divisions. The seized funds will restrict resources Hamas relies on for recruitment and financing, according to Assistant Attorney General John Eisenberg.