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New York Times: Hamas and Islamic Jihad raised $130 million through cryptocurrencies
Cryptocurrencies
Arab and international
The New York Times announced that Hamas and Islamic Jihad have collected $130 million through cryptocurrencies over the past years.
US Deputy Secretary of the Treasury, Wally Adeyemo, warned that the United States will go after cryptocurrency companies that fail to prevent terrorist groups from transferring funds.
Some authorities say the war in Gaza may lead to an increase in cryptocurrency fundraising by terrorist groups. Tom Alexandrovich, executive director of the Cyber Defense Division at the Israel National Cyber Directorate, said there has been an "excessive" increase in crypto-fund raising for terrorist groups as it is being cut off by traditional sources such as banks.
Shlomit Wagman, a Harvard researcher and former head of Israel's Money Laundering and Terrorist Financing Authority, who testified at a Senate Banking Committee hearing on terrorist financing this week, said encryption is a "problem" but is not the main source of Hamas' funding. State actors, such as Iran and Turkey, are the main funding engines for Palestinian terrorist groups, followed by commercial portfolios with real estate, investments, humanitarian aid and fundraising, including crypto.
In April, the armed wing of Hamas announced that it would halt Bitcoin fundraising because the activity was being tracked and donors exposed.
Views 29
Added 10/28/2023 - 5:51 PM
https://economy-news.net/content.php?id=37131
Cryptocurrencies
Arab and international
The New York Times announced that Hamas and Islamic Jihad have collected $130 million through cryptocurrencies over the past years.
US Deputy Secretary of the Treasury, Wally Adeyemo, warned that the United States will go after cryptocurrency companies that fail to prevent terrorist groups from transferring funds.
Some authorities say the war in Gaza may lead to an increase in cryptocurrency fundraising by terrorist groups. Tom Alexandrovich, executive director of the Cyber Defense Division at the Israel National Cyber Directorate, said there has been an "excessive" increase in crypto-fund raising for terrorist groups as it is being cut off by traditional sources such as banks.
Shlomit Wagman, a Harvard researcher and former head of Israel's Money Laundering and Terrorist Financing Authority, who testified at a Senate Banking Committee hearing on terrorist financing this week, said encryption is a "problem" but is not the main source of Hamas' funding. State actors, such as Iran and Turkey, are the main funding engines for Palestinian terrorist groups, followed by commercial portfolios with real estate, investments, humanitarian aid and fundraising, including crypto.
In April, the armed wing of Hamas announced that it would halt Bitcoin fundraising because the activity was being tracked and donors exposed.
Views 29
Added 10/28/2023 - 5:51 PM
https://economy-news.net/content.php?id=37131
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