Hamas Raises Billions of Yen Through Cryptocurrency, According to Reports

Unearth the alarming details of how armed groups like Hamas are using cryptocurrencies for fundraising.

With billions of yen accumulated, find out how they are leveraging technology to sidestep regulations, challenge authorities, and how this is becoming a crucial issue for global security.

Unveiling Hamas's Cryptocurrency Transactions: Accumulating Around $41 Million Since 2021

In a state of war with Israel, the Palestinian armed group "Hamas," which effectively controls the Gaza Strip, has reportedly received donations equivalent to around $41 million in cryptocurrency since 2021, according to The Wall Street Journal.

Separate from Hamas, another armed group, the Palestinian Islamic Jihad (PIJ), has reportedly received about $93 million worth of cryptocurrency from August 2021 to June 2023.

In contrast, Hamas had acquired around $41 million in cryptocurrency over the same period.

Reports indicate that Hamas has been publicly fundraising through cryptocurrency since at least 2019. The group is said to be using Telegram to collect Bitcoin donations from its supporters.

Circumventing Authorities: Obfuscation Techniques in Cryptocurrency Wallets

Hamas is also reported to have engaged payment processors to generate cryptocurrency wallet addresses, disguising their real wallets and thereby complicating transaction tracking for investigative authorities.

Although cryptocurrency is just one tool among many for armed groups like Hamas to raise funds, it poses a significant challenge for authorities.

In related news, it has been reported that the Israeli police successfully froze a Hamas-related cryptocurrency account. Additionally, a cryptocurrency donation reception has been initiated for refugees affected by the war.