Crypto News

OFAC targets Telegram-based media outlet Gaza Now for raising $4.5 million in crypto to fund Hamas

OFAC has named social media outlet Gaza Now and its founder Mustafa Ayash for their crypto fundraising efforts to support Hamas.

The Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury and the Office of Foreign Sanctions Implementation (OFSI) of the United Kingdom have jointly designated two individuals and three entities as major financial donors involved in crypto fundraising for Hamas, a Palestinian Sunni Islamist political and military movement designated as a foreign terrorist organization.

In a March 27 press release, OFAC announced sanctions against Gaza Now, which operates on platforms including Telegram, Instagram and following the October 2023 terrorist attack carried out by Hamas. against Israel.

“Treasury remains committed to degrading Hamas’ ability to finance its terrorist activities, including through online fundraising campaigns aimed at funneling money directly to the group. »

Brian Nelson, Under Secretary of the Treasury for Terrorism and Financial Intelligence

According to OFAC, following the October 2023 terrorist attack, Gaza Now launched a fundraising campaign to support Hamas.

Crypto addresses linked to Gaza Now and flows from an Iranian exchange as well as other entities | Source: Chainalysis

Data revealed by blockchain investigation firm Chainalysis shows that OFAC sanctioned a few crypto addresses controlled by the media outlet, which were used in crypto donation campaigns. In total, these addresses received nearly $4.5 million in crypto from mixers, smart contracts, and “primarily mainstream exchanges.”

“Gaza Now does not hide its support for terrorist organizations. In the screenshot of its Telegram channel below, for example, the outlet praises the Hamas-aligned Al-Aqsa Martyrs Brigades.”

On-Chain Analysis

The analytics firm noted that Gaza Now frequently changed crypto addresses due to increased scrutiny following the attacks and the channel’s growing subscriber base. The outlet regularly posted and then deleted donation requests, switching between various cryptocurrencies as part of these efforts, Chainalysis added.

OFAC’s latest action represents another attempt to disrupt Hamas’ operational capabilities following the October 2023 terrorist attack, which saw hundreds of Hamas militants invade Israel and launch thousands of rockets , ranked by the Center for Strategic and International Studies as the third. – the deadliest terrorist attack since 1970, just behind the September 11 attacks.

Follow us on Google News

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button