Cryptocurrency Exchange in Gaza Sanctioned for Enabling Hamas Transactions
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The U.S. Treasury recently sanctioned a Gaza cryptocurrency exchange facilitating transactions for Hamas using digital currencies like Bitcoin.
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Hamas was an early adopter of cryptocurrency donations starting in 2019, claiming transactions were anonymous.
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All cryptocurrency transactions are recorded on a public blockchain, allowing authorities to trace and seize crypto accounts linked to Hamas in 2020.
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Terror groups are still using cryptocurrency exchanges to raise, move and launder funds while evading detection.
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Authorities are using blockchain analytics tools to track and trace the flow of crypto funds from hackers, sanctioned entities, and terror groups.