Bitcoin used for funding Hamas Military Wing
- Al-Qassam Brigades have been raising money through bitcoin.
- Cryptocurrency companies trying to block the transactions.
Reuters reported that terrorists in Gaza are accepting cryptocurrency for funds. As stated by Elliptic, a blockchain analysis firm, the Izz ad-Din al-Qassam Brigades, the military wing of Hamas, which is recognized by several countries as a terrorist group, has been trying to raise money using bitcoin for several months.
Initially, the organization could access funds when the users sent bitcoin to a set address but soon after the cryptocurrency companies blocked the transactions after the address was identified. Now, whenever an Al-Qassam supporter sends them bitcoin, their wallet address changes, making it hard to track the fund.
“The Israeli occupation is fighting the resistance by trying hard to block any support for it,” says the group’s website, “but the resistance’s friends around the world are fighting back against such Israeli attempts and seeking all possible ways to support the resistance.”
However, the amount that they have received via bitcoin is negligible when compared to the amount they receive in millions from Iran and individuals from Gulf states.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
