In a bold move, the U.S. Department of Justice (DOJ) seized over $200,000 in cryptocurrency linked to Hamas from 17 wallets and several exchange accounts. Yes, you read that right—$200,000 just floating around like it’s nothing. This was part of a larger scheme involving more than $1.5 million in cryptocurrency transactions since October 2024.
The operation zeroed in on wallets that were allegedly used for fundraising and money laundering by the group. A hefty chunk of the seized cash, around $112,000, was snagged from just three exchange accounts. Most of the funds were in Tether (USDT), which is basically the Starbucks of stablecoins—everyone’s using it.
So how did Hamas supporters manage to collect this cash? They turned to online group chats, spreading the word about wallets tied to the organization. It’s like a digital fundraiser, except instead of bake sales, it involves pooling donations and laundering money through multiple exchanges. This isn’t a new trick; authorities have been on this case since 2019.
They used encrypted messaging apps to share rotating addresses. Sneaky, right? These funds weren’t just sitting around; they were hidden behind a web of complex transactions.
Despite the anonymity that cryptocurrency seems to promise, the transparent nature of blockchain allowed the authorities to track these funds down. Kind of ironic, isn’t it? The very thing Hamas thought would keep them under the radar turned out to be their downfall. The funds were primarily sourced from donations by Hamas supporters worldwide, which highlights the global nature of their fundraising efforts.
The irony? Hamas thought crypto would shield them, but blockchain transparency led to their undoing.
The FBI’s Albuquerque Field Office led this operation, working with the Counterterrorism and Cyber Divisions. U.S. Attorney Edward R. Martin Jr. made it clear: they’re not stopping until every dollar benefiting Hamas is gone.
This seizure is a clear message. The U.S. is tightening the screws on terrorist financing. And with exchanges like Binance under scrutiny, the crypto world better watch out. The government is coming for the illegal money trails. Buckle up.
