The Palestinian militant group Hamas has seen a surge in cryptocurrency donations since the start of the armed conflict with Israel last month, a senior official with the group said, exploiting a trend in online fundraising that has enabled it to circumvent international sanctions to fund its military operations.
The international attention to the recent fighting drew new eyeballs to websites run by Hamas’s armed wing, the Izz ad-Din al-Qassam Brigades, and that surge translated into donations for its military operations, the senior Hamas official said.
“There was definitely a spike” in bitcoin donations, he said.
As the cryptocurrency industry grew, Hamas began capitalizing on its ability to make transactions anonymous.
The Hamas official, who spoke on condition he not be named, declined to say how much cryptocurrency the group has received but said its proportion of overall revenue was rising.
Palestinian, Hamas, Brigades
Israel, Gaza, U.S