They’re opportunistic and adaptive,” said former CIA analyst Yaya Fanusie, now an adjunct senior fellow with the Center for a New American Security. It’s unclear how much money Hamas has received in cryptocurrency, but there’s evidence they have amassed significant amounts. Another $94 million was allegedly held by the Palestinian Islamic Jihad, a militant partner of Hamas, according to Elliptic, another analytics firm. Hamas additionally raises funds through informal taxes and smuggling, according to a Congressional Research Service report from May. Investigators were able to seize 150 cryptocurrency accounts “that laundered funds to and from” Hamas accounts, according to a DOJ news release.

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