- US Justice Department has seized approximately $201,400 worth of cryptocurrency from wallets linked to Hamas terrorist financing.
- Fundraising addresses controlled by Hamas were used to launder over $1.5 million in virtual currency since October 2024.
- The seized assets included cryptocurrency addresses valued at $89,900 and three accounts containing approximately $111,500 registered to Palestinian individuals.
The FBI has intercepted cryptocurrency funds intended to finance Hamas operations, the Justice Department announced this week. Federal authorities seized approximately $201,400 in digital assets from wallets and accounts linked to the Palestinian terrorist organization as part of an ongoing counter-terrorism financing operation.
Investigators traced the confiscated funds to an elaborate fundraising scheme that processed more than $1.5 million in virtual currency since October 2024. The operation revealed a sophisticated laundering network connecting cryptocurrency donors worldwide with Hamas financial operations.
According to court documents, Hamas supporters operated through an encrypted communications platform where at least 17 different cryptocurrency addresses were distributed in a group chat. These digital wallets were regularly changed to avoid detection while facilitating financial support for the organization.
The laundering operation employed a complex methodology to obscure the origin of funds. Once supporters deposited cryptocurrency into the provided addresses, the assets were transferred to an operational wallet and subsequently laundered through a series of virtual currency exchanges and transactions. This process utilized suspected financial operatives and over-the-counter brokers to convert and move the assets while attempting to hide their connection to terrorist financing.
The Justice Department’s seizure included cryptocurrency addresses containing approximately $89,900 in digital assets. Additionally, authorities confiscated three accounts valued at approximately $111,500 that were registered to Palestinian individuals residing in Turkey and other locations.
This case highlights the evolving nature of terrorist financing in the digital age, with extremist groups increasingly turning to cryptocurrency to bypass traditional banking surveillance and international sanctions.
The investigation remains active, with the FBI Albuquerque Field Office leading the case in coordination with the FBI’s Counterterrorism Division and Cyber Division, leveraging specialized expertise in tracking cryptocurrency transactions and terrorist financing networks.
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