Crypto Helped Fund Hamas’ Terror Attack on Israel – DW


The attack on Israel by Hamas on October 7 has heightened scrutiny on how the Islamist militant group was able to mount a sophisticated attack that saw more than 2,000 rockets fired into Israel from the Gaza strip, according to a report by Deutsche Welle, which said analysts believe “cryptocurrencies played a significant role” because Hamas has long been classed as a terrorist organisation and hit with bans that exclude it from the international banking system.

A crypto analytics and software firm based in Tel Aviv called BitOK alleged that Hamas received $41 million between August 2021 and June 2023, while the Palestinian Islamic Jihad, whose fighters joined the attack, received $93 million in crypto, the UK-based crypto researcher Elliptic claimed, according to the report. Elliptic also said Hamas’ military wing, the al-Qassam Brigades, had received millions in bitcoin and other crypto transfers.

Even with international sanctions, Hamas was named by Forbes in 2014 as one of the wealthiest terror groups, partly because of support from countries such as Iran (which the US says provides $100m a year to such groups), plus Qatar and Turkey, and donors in the Gulf region, the report said, adding that multiple digital accounts linked to Hamas have been cut off since the attack, which left a death toll of about 1,400 in Israel and 2,600 in Gaza, while half a million Palestinians have fled from northern Gaza as Israel warns of a ground attack to eliminate its enemies.

Read the full report: DW.




Adani’s Haifa Port Hit by Spiralling Israel-Gaza Conflict


Israel-Hamas War Casts Long Shadow Over China’s BRI Stocks


Economic Risks Mount for Asia as Israel Declares War on Hamas



Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years.

Recent Posts

Japan’s SLIM Moon Lander Sparks Back Into Life, Makes Contact

The probe unexpectedly survived a two-week lunar night after touching down on the lunar surface…

10 hours ago

Bitcoin Hits $57k, Posts Two-Year High as Big Players Wade In

The leading crypto coin has gained 32% in value so far in February, still riding…

12 hours ago

China-Wary Investors ‘Icing on Cake’ For Japan’s Nikkei

Nikkei heavyweights with a significant presence in China have seen mega rallies, especially in the…

14 hours ago

Tougher Penalties in China for Firms Understating Emissions

Emissions data fraud has been a big problem for China's carbon trading scheme, but State…

14 hours ago

AI Model Boosts Scientists’ Nuclear Fusion Energy Dream – IS

An artificial intelligence (AI) trained on previous experiments has been able to predict instabilities in…

15 hours ago

Nikkei Flatlines After Record Push, AI Optimism Lifts Hang Seng

Tokyo’s benchmark hit another record before retreating while China stocks rode the AI wave to…

16 hours ago