Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

US Justice Department seizes over $200K in cryptocurrency intended for terrorism financing

Source Cryptopolitan

The US Justice Department intercepted over $200K in crypto from addresses linked to terrorism financing. The crypto funds were aimed at benefiting Harakat al-Muqawama al-Islamiyya (Hamas).

The US Justice Department announced that a terrorism financing scheme has been disrupted, tracking and seizing $200K in crypto assets. The funds were intended for Harakat al-Muqawama al-Islamiyya (Hamas) and were a part of a wider fundraising effort through multiple channels. The alleged group chats presented crypto addresses for direct donation, a scheme that has led to multiple asset freezes in the past.

The latest crypto financing case was investigated by the FBI Albuquerque Field Office and the FBI Counterterrorism Division and Cyber Division. The new campaign against terrorism financing is under the direction of the new US Attorney General, Pam Bondi. The investigation relied on leads from confidential human sources.

The fundraising addresses identified to belong to Hamas ended up with a turnover of $1.5M, flowing in and out of the wallets since October 2024.

“Hamas raised and laundered more than a million dollars to support its terrorist operation, but through our investigation, the FBI traced and seized these funds,’”said Assistant Director David J. Scott of the FBI Counterterrorism Division.

“Disrupting funding mechanisms and seizing cryptocurrency from Hamas is one of the FBI’s many tools that we use in the fight against terrorism. The FBI will work with our partners to dismantle this terrorist group and protect the American people from their violent and horrific acts,” he said.

The sums intercepted are relatively small compared to fiat funding, but show US authorities are tracking all possible financing channels. The assets seized also disrupted all communication and fundraising.

Fundraising addresses spread through Telegram

The addresses for terrorism financing spread through group chats on encrypted communication platforms. The fundraising relied on a rotating list of at least 17 wallets, where supporters could donate. Some of the messages were spreading on Telegram, though, for now, the list of wallets and addresses

The deposits were then laundered through crypto exchanges and mixing transactions, as well as swaps through OTC brokers. More than $1M was raised and laundered with this system. Seized wallets contain around $89,900 remaining assets, with three additional accounts holding $111,500. The accounts were registered in the names of Palestinian persons residing in Turkey or other countries.

Previously, Eliptic has identified Hamas-related addresses with up to $7.7M in turnover. In the past few years, potential crypto fundraising by terrorists has attracted the attention of authorities, showing that, overall, crypto was the smallest funding channel. However, blockchain traceability and the assistance from exchanges helped track not only funds, but also involved individuals.

The addresses are never shown publicly and tracked by regular on-chain investigators due to their sensitive nature. The funds were sent to Ethereum, BNB Smart Chain, and TRON wallets, and some of the donations were made through Dogecoin (DOGE). There have been previous cases where TRON was used for donations.

One address reported to belong to a fundraiser contains only $49.75 in BTC. The address has not moved the coins for a long time and has limited activity. Overall, even detailed investigations fail to intercept the crypto funds, which move too fast for freezing. Additionally, not all protocols are capable or willing to assist authorities.

Over time, Telegram has banned multiple channels suspected of organizing terrorism financing. Hamas-themed groups have emerged again and are freely publishing content. In previous financing cases, the channels mostly received small-scale donations, as some of the known wallets contained minimal amounts of crypto. The recent disruption of a financing scheme is just a small part of crypto-based illegal activities.

Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

US August CPI lands tonight: after a 5.4% PPI shock, will the Fed hike on September 16?US August PPI came in at 5.4% year-on-year, above the 5.3% consensus, with core PPI at 4.6%. Traders have pushed the odds of a 25bp Fed hike on September 15-16 to around 70%. Tonight's CPI is the last major inflation print before the decision — here is the full calendar, the consensus numbers, and what a hot versus cool reading would mean for the dollar, yields, gold and stocks.

Author Irene Q.

Sep 11, Fri

US August PPI came in at 5.4% year-on-year, above the 5.3% consensus, with core PPI at 4.6%. Traders have pushed the odds of a 25bp Fed hike on September 15-16 to around 70%. Tonight's CPI is the last major inflation print before the decision — here is the full calendar, the consensus numbers, and what a hot versus cool reading would mean for the dollar, yields, gold and stocks.

Brent tests $108 as a key export pipeline stays shut — can the rally clear $110?Brent crude rose 2.55% to $106.97 and WTI 2.32% to $102.30 as a major regional export pipeline remained offline with no restart timeline. Front-month backwardation has widened to $5.53 from $3.84 a week ago, European gas is at its highest since December 2022, and one analyst sees $119.48 if talks stall.

Author Irene Q.

Sep 14, Mon

Brent crude rose 2.55% to $106.97 and WTI 2.32% to $102.30 as a major regional export pipeline remained offline with no restart timeline. Front-month backwardation has widened to $5.53 from $3.84 a week ago, European gas is at its highest since December 2022, and one analyst sees $119.48 if talks stall.

Fed hike odds near 90% into Wednesday's decision — how to trade the dollar, gold and the S&P 500 A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Author Suzie

Sep 14, Mon

A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Gold falls below $4,300 as higher US yields bolster Fed rate hike bets Gold price (XAU/USD) tumbles to near $4,295 during the early Asian session on Tuesday. The precious metal faces some selling pressure as rising bond yields and surging energy prices strengthen expectations that the US Federal Reserve (Fed) will raise interest rates this week.

Author FXStreet

23 hours ago

Gold price (XAU/USD) tumbles to near $4,295 during the early Asian session on Tuesday. The precious metal faces some selling pressure as rising bond yields and surging energy prices strengthen expectations that the US Federal Reserve (Fed) will raise interest rates this week.

【Daily Brief】10-year Treasury yield briefly tops 5%, S&P 500 slips to 7,602 and the dollar firms at 99.3 as the Fed's decision eve begins The 10-year Treasury yield touched 5.014% on Monday — its first print above 5% since October 2023 — while the S&P 500 closed 0.48% lower at 7,619.98 and the dollar index firmed to 99.3. Here is the full market wrap ahead of Wednesday's FOMC decision, the dot plot and the August retail sales report, plus today's CLARITY Act Senate vote.

Author Irene Q.

16 hours ago

The 10-year Treasury yield touched 5.014% on Monday — its first print above 5% since October 2023 — while the S&P 500 closed 0.48% lower at 7,619.98 and the dollar index firmed to 99.3. Here is the full market wrap ahead of Wednesday's FOMC decision, the dot plot and the August retail sales report, plus today's CLARITY Act Senate vote.

Popular Symbols