Source: Fortune
Summary
The FBI seized over $560,000 in cryptocurrency meant for Hamas, according to the Justice Department. The agency also took control of websites and communication platforms used for fundraising and recruitment. FBI affidavits revealed that Hamas tested crypto fundraising in 2019 through its Qassam Brigades. A confidential source in the U.S. alerted authorities to a Telegram post seeking donations for Hamas. The FBI said it would continue to intercept illicit funds and prevent terrorist financing.
Our Reading
The numbers tell one story.
FBI seized $560k in crypto for Hamas.
Hamas used Telegram and crypto for fundraising.
Officials claimed crypto was untraceable.
Law enforcement broke the network with a tip.
Corporate security is always a work in progress.
Author: Evan Null
FBI Seizes Crypto for Hamas
The FBI has seized over $560,000 in cryptocurrency donations intended for Hamas, according to the Justice Department. The move is part of an effort to disrupt the militant group’s funding. The agency also took control of websites and communication platforms used for fundraising and recruitment. The operation highlights the growing role of digital currencies in financing terrorist activities.
Hamas Tested Crypto Fundraising in 2019
FBI affidavits revealed that Hamas began testing virtual currency fundraising in or around early 2019 through its Qassam Brigades. The group used Telegram channels and direct online fundraising to solicit donations. Hamas officials claimed the currency would be untraceable, and their websites provided instructions for making anonymous donations.
Key Breakthrough Came Last Year
A major investigative breakthrough occurred last year when FBI officials identified a financing network that was soliciting donations to the Qassam Brigades via virtual currency. A confidential source in the U.S. alerted law enforcement to a Telegram post asking for contributions to an email address linked to Hamas. This led to the seizure of funds and the disruption of the network.
FBI Vows to Continue Efforts
Brett Leatherman, an FBI assistant director in charge of its cyber division, said the bureau would continue to use its authorities to intercept illicit funds and prevent terrorist organizations from exploiting digital networks to finance their operations. The FBI’s actions signal a growing focus on cryptocurrency as a tool for financing terrorism.
Officials Claimed Crypto Was Untraceable
Hamas officials claimed that their use of cryptocurrency would make donations untraceable. However, the FBI’s operation shows that even digital currencies are not immune to law enforcement efforts. The agency’s success in seizing the funds and disrupting the network demonstrates the challenges of using crypto for illicit purposes.
