US Department of Justice Announces Significant Operation Against Terrorism Financing
The United States Department of Justice recently announced a significant operation against the financing of terrorist activities, seizing approximately $200,000 in cryptocurrencies. This amount was linked to funding schemes associated with Hamas.
Details of the Seizure
According to the official statement, the cryptocurrencies were deposited in various wallets and accounts used to benefit the organization. The investigation revealed that these funds originated from fundraising campaigns, allegedly controlled by Hamas, which served to launder over $1.5 million in virtual currency since October 2024.
Type of Cryptocurrency Involved
The virtual currency in question was USDT, one of the most widely used stablecoins globally, issued by Tether. These amounts were identified and tracked through complex transactions involving various cryptocurrency wallets.
Additional Details from the DOJ
Additional details provided by the DOJ indicated that a group, claiming association with Hamas on a secure communication platform, directed supporters to channel resources to over a dozen cryptocurrency wallets. These amounts were subsequently transferred to an operational wallet and laundered through exchanges and transactions on a series of cryptocurrency platforms, involving suspected funders and over-the-counter brokers.
Broader Efforts Against Terrorism Financing
This action is part of a broader effort to cut off funding sources for terrorist activities that exploit the anonymity of cryptocurrencies. About a year ago, the U.S. Department of the Treasury had already initiated investigations into $165 million in cryptocurrency transactions that allegedly benefited Hamas, prior to the attack on October 7, 2023, against Israel, resulting in approximately 1,200 deaths, including 40 American citizens.