US Treasury Sanctions $2M Hamas Fundraising Network Using Crypto

Key Facts

1The US Treasury Department exposed a network that raised over $2 million for Hamas through purported humanitarian charities.

2The fundraising operations included hundreds of thousands of dollars sent using cryptocurrencies.

The US Treasury Department exposed a fundraising network that raised over $2 million for Hamas through purported humanitarian charities. CoinDesk reported that the operations included hundreds of thousands of dollars sent using cryptocurrencies to commanders within the Al-Qassam Brigades in Gaza. According to the department, the network involved individuals based in France who facilitated the transfer of funds under the guise of providing aid.

Treasury Secretary Scott Bessent stated that organizations rely on sophisticated financial facilitators and fraudulent schemes to exploit the public, noting that the sanctions aim to disrupt financial infrastructures. The action highlights increased regulatory focus on digital assets used for sanctions evasion and illicit finance. Such enforcement actions typically increase pressure on the crypto sector to enhance AML and KYC compliance.