Terrorist organizations continued to seek crypto donations

Crypto donations have became truly popular among terrorist organizations. According to some reports it is, it is unveiled that Hamas, which is known as a terrorist organization has been continuing to operate its cryptocurrency funding network. It is notable that the United States Department of Justice had broke the digital assets funding network of the terrorists organization in 2020. However, following recent reports it seems that the agency was unable to disrupt the network completely and the organization is still continuing to operate such networks.

Hamas continues to operate its Bitcoin network

Hamas, a sunni islamic fundamentalist, militant, and nationalist organization has continued to operate its illicit Bitcoin network. The aforementioned claims are revealed following a tweet shared by research analyst Joe Truzman.

Truzman also highlights that the effort of Hamas to raise funds through crypto donations was knocked back in 2020 by the US DoJ. However, he further explained that the message shows that the organization is still calling for such similar donations.

Crypto donations solves Hamas’ funding issues

Hamas first stepped in the crypto ecosystem to acquire funds, in 2019. At the time the organization saw the method as a long term solution to its funding problems.

Back in 2020, the US Department of Justice took action in August to break down the group’s funding. Notably, at the time there were several networks through which the organization asked its followers to send crypto donations. However, the DoJ worked with the IRS, HSI, and the FBI agents to successfully seize about 150 accounts that were used to launder the funds.

Later in late 2021, Israel employed surveillance funding problems to crack down the illicit activities and transactions while seizing more than $800k in digital assets. The funds were seized following the seizure of 12 cryptocurrency accounts related to terror groups.

Governments are wary of cryptocurrencies

A message from the organization was posted on the Telegram channel, which has more than 180,000 followers. According to the message, the organization asked the world to send Bitcoins to a specific address that they own. 

Following the call on the telegram channel, it is clear that the US designated Foreign Terrorist Organization (FTO) is persisting in its cryptocurrency funding network. This came despite the efforts of the United States government.

Indeed, now the governments are cracking down on illicit activities and funding as crypto donations have become an effective source to circumvent laws and regulations.

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Source: https://www.thecoinrepublic.com/2022/03/21/terrorist-organizations-continued-to-seek-crypto-donations/