Digital currencies stolen from an Indian businessman were used by Hamas in attacks on Israel. In this post of pooyan music, we discuss the presence of digital currencies in the war between Hamas and Israel.
Nearly INR 4 crore ($480,000) in cryptocurrency stolen from a businessman in Delhi, India. Then these currencies were transferred to the account of Hamas. Indian police and authorities have noticed this.
Indian authorities received information from the Israeli intelligence agency Mossad about some suspicious wallets. Apparently, the contents of these accounts have been used for Hamas’ war purposes.
Indian security agencies then discovered that a number of these suspected wallets, which received the stolen cryptocurrencies from a Delhi businessman, were controlled by Hamas’ cyber wing known as Al-Wasam Brigades.
A former DCP (Special Cell) of the Indian Police who investigated the case told The Times of India.
The report quoted a police officer as adding that the digital currencies were routed through various private wallets before being placed in wallets linked to Hamas.
41 million dollars of digital currency, at the disposal of Hamas
As previously reported, an Israeli crypto analytics and software company revealed that more than $41 million in funds flowed into Hamas-linked cryptocurrency wallets between August 2021 and June 2023, leading to an attack on Israel.
In the same time frame, cryptocurrency wallets associated with the Palestinian Islamic Jihad (PIJ) received $93 million in cryptocurrency between August 2021 and June 2023. This article was revealed through the analysis of Elliptic digital currency researcher.
Investigations by this cyber unit have already shown that Hamas has started an online fundraising campaign since the start of the recent conflicts. Hamas has asked people to deposit digital currencies into their accounts on social media platforms.
War financing remains a challenge in the crypto world
Military forces and terrorist organizations have circumvented sanctions in recent years. They are still raising funds through cryptocurrencies. Authorities around the world are actively trying to regulate crypto by enforcing KYC requirements and anti-terror financing regulations such as travel laws to put an end to such activities.