FBI Uncovers 1.5 Million$ Hamas Cryptocurrency Scheme

The US Department of Justice announced the discovery of a cryptocurrency scheme linked to the Hamas terrorist group, which is responsible for the October 7, 2023 attack on Israel. Over the past six months, the organization accumulated and laundered more than 1.5 million$ through crypto wallets, some of which was confiscated and blocked as a result of the FBI operation.

More than 17 cryptocurrency addresses were identified that were used in group chats on encrypted platforms. There, Hamas supporters called for donations in cryptocurrency. The wallets were issued to Palestinians living in Turkey and other countries.

The funds received went through a series of exchanges and transactions, where they were “laundered” to further finance terrorist activities. 201,400$ in cryptocurrency was seized, including some from wallets and an additional amount from personal accounts.

1. According to the FBI, the money laundering scheme had been operating since October 2024 and spanned multiple jurisdictions. Among the assets seized were 89,900$ from wallets and another $111,500 from personal accounts. Operating wallets were also found that were constantly changing to make tracking more difficult.
2. Hamas is officially recognized as a terrorist organization by the United States, the European Union, Canada, Japan, Australia, and many other countries. The group is responsible for the October 7, 2023, terrorist attack that killed more than 1,200 Israelis, as well as the kidnapping of 250 civilians, some of whom are still being held hostage.

The FBI emphasizes that stopping the financing of terror is a key component of the fight against radical groups. Thanks to crypto analytics and international cooperation, it was possible to track the movement of money and strike a blow to the financial logistics of Hamas. The investigation is ongoing, and law enforcement officers plan to reveal additional details.