Hamas, a Palestinian organization listed as a terrorist organization by the European Union and the United States, has decided to stop receiving Bitcoin (BTC) donations due to concerns about the safety of its donors. The group started accepting cryptocurrency donations in 2019 and raised around $90 million in BTC, according to the US Department of Justice.
Hamas fears for the safety of its Bitcoin (BTC) donors
The armed wing of Hamas, the Izz al-Din al-Qassam brigades, has decided to stop receiving Bitcoin (BTC) donations. According to a statement from the Palestinian group, classified as terrorist by the European Union and the United States, the security of donors using this means of donation would be in question.
Screenshot (translated) from Hamas website
Indeed, according to Hamas,Efforts would have been made to prevent Bitcoin donations to him. However, the organization calls on its donors ” to continue to donate to Qassam and the resistance by all available means “. Apart from donations from individuals, Hamas notably receives funding from Iran, but most of its financial sources remain opaque.
According to the US Department of Justice, Hamas reportedly collected no less than $90 million in cryptocurrency donations, mainly in BTC. So far, the Gaza-based organization has often encouraged donations in cryptocurrencies, in particular via advertising campaigns on the Internet accompanied by tutorials for this purpose.
According to Chainalysis, the transparency of the blockchain indicates a terrain not conducive to crime :
“Through the transparency of blockchains, law enforcement can trace funds used for illicit activities and potentially link them to real people and entities – and the immutability of blockchains means these investigations can take place at any time. moment, even if the crime took place a long time ago, because the evidence of the transactions will be available forever. »
Hamas started accepting cryptocurrency donations in 2019first raising a few thousand dollars, then the donations multiplied greatly thanks to the blockchain.
Contacted by Reuters, the Israeli army declined to comment on Hamas’ decision.
👉 In The News – He steals Bitcoins from the Russian government… To destroy them and give them to Ukraine
Source: Chainalysis
Newsletter 🍞
Receive a summary of crypto news every Monday by email 👌
What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.
Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital.
To go further, read our Financial Situation, Media Transparency and Legal Notices pages.
Passionate about the world of decentralized finance and the novelties brought by Web 3.0, I write articles for Cryptoast to help make blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
Maximilien Prue
694 items
