Michaela
The U.S. Department of Justice has confiscated more than $200,000 in cryptocurrency from at least 17 digital wallets, alleging the funds were intended to support Hamas.
On March 27, the DOJ revealed it seized cryptocurrency from fundraising addresses allegedly tied to the militant group. Officials claim these wallets have facilitated the laundering of more than $1.5 million in digital assets since October 2024.
According to court documents, an encrypted messaging group claiming ties to Hamas shared rotating cryptocurrency addresses with supporters worldwide. Followers were reportedly encouraged to send funds to these addresses to aid the organization.
The funds were then transferred to an operational wallet and then moved through a network of virtual currency exchanges and transactions. Authorities believe suspected financiers and over-the-counter brokers facilitated the laundering process.
Around $89,900 in cryptocurrency addresses along with three additional accounts holding approximately $111,500 in digital assets were included in the seizure. These accounts were registered under the names of Palestinian individuals residing in Turkey and other locations.
“Countering terrorism remains the FBI’s number one priority. By successfully disrupting access to these funds, we have weakened their ability to function,” FBI Special Agent in Charge Raul Bujanda of the Albuquerque Field Office said.
Binance Sued for Allegedly Aiding Hamas Transactions
In January, Binance and its former CEO, Changpeng Zhao, were awaiting a federal judge’s decision on their request to dismiss a lawsuit brought by families of victims of the 2023 Hamas attack in Israel.
The lawsuit accused Binance, the former CEO, and financial entities in Iran and Syria of aiding Hamas by allegedly facilitating transactions that contributed to the group’s ability to carry out attacks on Israel in October 2023. The legal action claimed that Binance provided substantial assistance to Hamas by allowing the transfer of funds used to support its operations.
The plaintiffs’ legal team argued that Binance knowingly facilitated financial transactions for Hamas, citing a 2020 incident where the exchange allegedly allowed a flagged Hamas-affiliated individual to move funds off the platform without intervention.
“Binance was told, Hamas is on your platform. They didn’t seize the funds, they helped them leave and told them they were flagged, facilitating,” the plaintiffs’ counsel stated.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
