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.
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