Treasury sanctions expose crypto-funded Hamas fundraising network

The U.S. Treasury Department has imposed sanctions on several individuals and charities linked to a fundraising network that raised over $2 million for Hamas. The operation, which spanned six years, involved the use of cryptocurrency and humanitarian donations to funnel funds to the militant group. Among those sanctioned are Faouzi Barika and Amel Oualid, two France-based individuals accused of collecting funds under the guise of humanitarian causes and then transferring them to Hamas.

The Treasury alleged that the network collected more than $2 million between 2020 and 2026, with $1.5 million raised after Hamas’s October 7, 2023, attack on Israel. The sanctions specifically target Saleem Abdallah Saleem al-Zaq, a Gaza-based deputy battalion commander in Hamas’s Al-Qassam Brigades, who received hundreds of thousands of dollars in crypto from the network.

This action highlights the growing focus of U.S. authorities on crypto’s role in terrorist financing, though officials note that conventional finance remains the primary funding source for groups like Hamas. The sanctions also come after reports that the Al-Qassam Brigades advised donors to avoid using Binance and instead utilize other crypto services before transferring funds to a TRON wallet.

The new measures block any property or interests in property held by the designated parties under U.S. jurisdiction. Treasury Secretary Scott Bessent emphasized that terrorist organizations exploit public trust through sophisticated financial schemes.