Hamas' Military Wing Favors Alternative Crypto Platforms Over Binance

The military wing of Hamas, Al-Qassam Brigades, has instructed potential donors to avoid using Binance for transferring funds to their wallet. According to documents released by the U.S. Department of Justice (DoJ), the group prefers alternative crypto platforms such as Bybit, OKX, Kast, and Redotpay. The guidance was included in a letter from Al-Qassam Brigades, which also recommended using Tether's USDT stablecoin and the TRC-20 network.

The letter advised donors to avoid entering any data indicating their official name to prevent their wallet being blocked. It also suggested that Binance can be used for purchasing currencies, but another application should be used to complete the transfer process.

Experts note that large crypto platforms and stablecoins are often used for various purposes, and the inclusion of these companies in the letter does not necessarily indicate weak Know Your Customer (KYC) or Anti-Money Laundering (AML) protocols. However, the use of cryptocurrencies by sanctioned groups has become a growing concern.

The U.S. Treasury has stated that groups such as Hamas and ISIS continue to use digital assets for donations and transfers. In 2023, cryptocurrency wallets connected to Hamas received approximately $41 million between 2020 and 2023, according to The Wall Street Journal.