Treasury crackdown exposes crypto’s role in $2 million Hamas fundraising network
The Treasury Department said the network raised more than $2 million through purported humanitarian charities, including hundreds of thousands of dollars sent in crypto.
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Summary
- The U.S. Treasury Department sanctioned a Hamas military-wing member, two France-based individuals and two charities accused of helping raise more than $2 million for Hamas through cryptocurrency and purported humanitarian donations.
- Treasury said the network collected the funds between 2020 and 2026, including $1.5 million after Hamas’s Oct. 7, 2023, attack on Israel, and sent hundreds of thousands of dollars in cryptocurrency to a Gaza-based Hamas commander.
- The sanctions freeze the designated parties’ assets under U.S. jurisdiction, generally bar Americans from doing business with them and expose foreign financial institutions facilitating significant transactions to potential penalties.
