Hamas Learns the Hard Way: Crypto Donations Are Not as Anonymous as They Thought
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Hamas thought bitcoin donations were anonymous and untraceable, but they quickly learned transactions are pseudonymous and traceable.
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The DOJ seized millions in crypto from Hamas in 2020, and even took over their fundraising website to divert donations to the US treasury.
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Israel has seized nearly $10M in Hamas crypto donations and redirected funds to its own treasury to use against Hamas.
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Hamas abandoned bitcoin in 2023 due to increased prosecution of donors and inability to convert crypto to fiat currency.
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Hamas has reverted to traditional financing like cash, taxes, and shell companies which are harder to track than crypto transactions.