• 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. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Analysis: BTC/USD consolidation lags triangle breakout

Bitcoin remained under pressure during the entire weekend. The attempts made to stay above $7,200 support failed, leaving to the path of least resist ace to be below $7,000. Bitcoin’s immediate upside is limited by the 50 SMA on the 2H chart.

More Bitcoin News

Ethereum Price Update: ETH/USD defends $140 support yet again

Ethereum is largely unchanged compared to the levels towards the end of last week. The pressure oozing from the bears continued across the weekend session. Besides action beyond $145 remained limited.

More Ethereum News

Ripple Price Analysis: XRP/USD spirals in freshly reignited downward momentum

Ripple has ignited the bearish momentum breaking the weekend-long support at $0.2160. The losses come after an attempt to break out from the descending channel resistance failed.

More Ripple News

Top 3 Price Prediction BTC, ETH, XRP: Sell the rallies– key theme ahead?

The world’s no. 1 digital coin, Bitcoin, is seen fading its tepid recovery from 2.5-week lows of 7,007, as we head towards the weekly closing. Top 3 widely traded coins to shed 4+% each on the week.

More Cryptocurrencies News


Bitcoin Weekly Forecast: It's all about whales again

On the cryptocurrency market, regulators, governments and central bankers and other big names like that are inferior to whales when it comes to generating trends and price movements.

Read the weekly forecast