The U.S. Department of Justice says the financial scheme of a terrorist organization was disrupted after authorities confiscated a substantial amount of the group’s crypto funds.
In a statement, the DOJ announces the seizure of $201,400 in USDT held in wallets and accounts set up to support the activities of Hamas, the Palestinian armed group that the US, UK and other nations have designated as a terrorist organization.
The funds were stored in accounts registered in the names of Palestinian individuals living in Turkey and elsewhere, including three wallets with around $111,500 in cryptocurrency and other addresses with assets valued at approximately $89,900.
The DOJ says the funds were traced from purported Hamas fundraising addresses that were used to launder over $1.5 million in crypto since October 2024.
According to court documents, a group chat on an encrypted communications platform encouraged the movement’s supporters to donate money by sending funds to a changing set of at least 17 crypto addresses.
The funds were then funneled into an operational wallet and laundered through a series of crypto exchanges and transactions with the help of suspected financiers and over-the-counter brokers.
FBI Special Agent in Charge Raul Bujanda, of the Albuquerque Field Office, says that disrupting the group’s access to the funds weakened their ability to function.
“This success demonstrates that financial warfare is a critical component to fight terrorism. We will continue to do everything in our power to protect the American people and pursue justice by depriving terrorist organizations of the resources they need to continue their illicit activity.”
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