Analysis-Hamas' cash-to-crypto global finance maze in Israel's sights

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Analysis-Hamas' cash-to-crypto global finance maze in Israel's sights

© Reuters. FILE PHOTO: Palestinians receive cash as the United Nations begins distribute cash aid, funded by Qatar, to thousands of poor families, in Khan Younis, in the southern Gaza Strip, September 15, 2021.

Matthew Levitt, a former U.S. official specialised in counterterrorism, estimated the bulk of Hamas' budget of more than $300 million came from taxes on business, as well as from countries including Iran and Qatar or charities. "Hamas has been one of the more successful users of crypto for the financing of terrorism," said Tom Robinson, co-founder of blockchain research firm Elliptic.

"One likely reason for the low donation volume is that Israeli authorities are targeting them immediately," TRM said, adding that Israel had seized cryptocurrency worth"tens of millions of dollars" from Hamas-linked addresses in recent years.Whether through crypto or other means, Hamas' allies have found ways to get money to Gaza. The U.S.

"Qatari aid provides 100 dollars to the poorest Palestinian families and extends the period of electricity during a day in Gaza," a Qatari official said in response to a request for government comment, adding that it had helped"maintain stability and quality of life for ... Palestinian families".

 

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