European Union authorities confiscate Isis-backed cryptocurrency allegedly used to fund extremist activities

US DOJ Seizes $201,000 of Hamas Terrorist Crypto Financing

The United States Department of Justice (DOJ) has announced the seizure of approximately $201,000 in cryptocurrency believed to be connected to Hamas, a designated terrorist organization. The funds, held in various digital wallets, were frozen and seized as part of a coordinated effort between the DOJ, the US Treasury Department's Office of Foreign Assets Control (OFAC), and the Israeli National Police.

According to the DOJ, the seized funds were sent to Hamas through a network of cryptocurrency exchanges and wallets. The investigation, which began in 2020, involved tracing the flow of cryptocurrency transactions and identifying the wallets involved.

The seized funds were held in various digital currencies, including Bitcoin, Ethereum, and Litecoin. The DOJ stated that the seized cryptocurrency was not used to directly fund terrorist activities but rather served as a means of storing and transferring funds for Hamas.

The seizure is the result of a successful international effort to disrupt and dismantle Hamas's financial networks. The Israeli National Police worked closely with US and international authorities to identify and track the movement of cryptocurrency funds.

This seizure marks a significant milestone in the global effort to combat terrorist financing. The use of cryptocurrency by terrorist organizations such as Hamas has become increasingly prevalent in recent years, making it essential for governments and financial institutions to remain vigilant and adapt to these new methods.

The DOJ's seizure of the $201,000 in cryptocurrency is a powerful reminder of the importance of international cooperation in combating terrorism and disrupting the financial networks that support it.