US Targets Hamas Crypto Financing Network in New Sanctions

The U.S. Treasury has sanctioned five individuals and entities tied to a Hamas financing network that moved over $2 million to the group. The network exploited sham charities and cryptocurrency channels to collect and transfer funds. Treasury Secretary Scott Bessent emphasized that the U.S. will continue to target those providing financial support to Hamas, calling out the use of sophisticated financial schemes.

Two France-based fundraisers were identified as key figures in the network, raising over $2 million between 2020 and 2026. Hundreds of thousands of dollars in cryptocurrency were directed to a Hamas-linked financier, Saleem Abdallah Saleem al-Zaq. The Treasury noted that the network collected $1.5 million following the October 7, 2023 Hamas attack on Israel.

The action reflects a broader U.S. effort to disrupt cryptocurrency channels used to finance Hamas. Bessent highlighted the reliance of terrorist organizations on financial facilitators and fraudulent schemes to sustain their operations. The sanctions block U.S.-linked property and aim to cut off financial channels supporting Hamas.