Bitcoin Donations Linked To Hamas-Gaza’s Ruling Authority

An intelligence blockchain firm from Israel claims that has proof of BTC donation trails reaching the ruling group of Gaza-Hamas. In our blockchain news today we are going to find out more.

The Israeli financial daily newspaper Globes reported the claims where you can read that  BTC wallet addresses have been noticed to receive funds through the organization’s Telegram channel. The addresses have been identified by the blockchain intelligence firm Whitestream.

There was a rumor previously that we reported about earlier that a Hamas spokesman was urging supporters to make donations in bitcoin in order to fight the financial isolation. Hamas has been ruling in the Gaza Strip since 2007 and has its own militant branch and social service arm ‘’Dawah’’ and is deemed as a terrorist organization according to the United States and the European Union.

Whitestream says that about $2,500 in donations were in just two days when the first wallet address was published. One of the donations has been traced to a crypto trader Khan Yunis within the Gaza Strip from addresses hosted by Binance and the Russian platform Vilkov.

Further donations have been traced from the Cayman Islands-registered from CoinPayments and other ones connected to Binance once again. There were also donations through the US exchanges Coinbase and Bittrex as well.

The exchanges that are operating in a terrorist territory will be closely monitored and identified according to the Globes report.

On the other hand, many banks have already bar services to Hamas via their Anti-Money laundering and terror financing prevention systems.

Whitestream co-founder Itsik Levy says:

 “In exposing illegal activity, you could say that blockchain itself does most of the work. All activity on the network is registered and documented, so it can be read at a later stage.”