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 began accepting cryptocurrency donations in 2019 and collected about $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, which is classified as terrorists by the European Union and the United States, the security of donors using this method of donation would be at stake.
Screenshot (translated) from the Hamas website
Indeed, according to Hamas,Attempts would have been made to prevent Bitcoin donations to him. However, the organization asks its donors to ” continue to donate to Qassam and the resistance in every way available “. Apart from donations from individuals, Hamas receives funding mainly from Iran, but most of its financial sources remain opaque.
According to the US Department of Justice, Hamas has reportedly collected at least $90 million in cryptocurrency donations, mainly in BTC. Until now, the organization based in Gaza has often encouraged donations in cryptocurrencies, especially through advertising campaigns on the Internet accompanied by tutorials for this purpose.
According to Chainalysis, The transparency of the blockchain represents a terrain that is not conducive to crime :
“Through the transparency of blockchains, law enforcement can trace funds used for illegal activities and link them to real people and entities – and the immutability of blockchains means these investigations can be carried out at any time. long ago, because the evidence of the transactions will be available forever. »
Hamas began accepting cryptocurrency donations in 2019raising a few thousand dollars at first, then the donations increased significantly thanks to the blockchain.
Contacted by Reuters, the Israeli army declined to comment on Hamas’ decision.
👉 In the News – He stole Bitcoins from the Russian government… To destroy them and give them to Ukraine
Source: Chainalysis
Newsletter 🍞
Get a summary of crypto news every Monday by email 👌
What you need to know about affiliate links. This page presents assets, products or services related to investments. Some links in this article are affiliates. 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 influence 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 responsible, directly or indirectly, for any damage or loss incurred after the use of a product or service highlighted in this article on him. Investments involving crypto-assets are inherently risky, 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, high risk is associated with a product with high return potential. This risk must be in line with your project, your investment horizon and your ability to lose some of these savings. Do not invest unless you are prepared to lose all or part of your capital.
To go further, read our Financial Status, Media Transparency and Legal Notices pages.