Hamas’ new tactics seems to be yielding some positive results as the Islamic group received crypto donations from the wallets of prominent crypto exchanges. This was revealed by an Israeli-based blockchain intelligence firm, Whitestream.
Crypto Donation For Hamas
The Islamic group, Hamas resulted to soliciting for Bitcoin donation as reported by BTCNN recently due to economic sanctions from the U.S. and Isreal that almost crippled their activities. Also, the main financier of the group, Iran was also hit with the effect of economic sanction from the United States of recent.
The Islamic group requested Bitcoin donation to support its cause while also posting two Bitcoin wallet addresses as revealed by Whitestream.
As mentioned, the first of the two addresses posted by Hamas on their website received Bitcoin donation from a Coinbase wallet and the second received a donation from another prominent exchange. The donation of about $2,500 worth of Bitcoin, 0.75 BTC has been made to these wallets just within two days after Hamas posted the Bitcoin wallets addresses.
The details of how Whitestream obtained the information of the Bitcoin donation was not revealed, but the firm noted that the donations came from wallets associated with Coinbase and Binance. All the transactions were stated to be proven because it is on the blockchain. Also, additional Bitcoin fund was noted to have been sent from Bittrex and a Russian exchange known as Vilkov as well from the CoinMixer.io.
Choice Of Bitcoin For Donations
The choice of Bitcoin for the donation was made because of its peer-to-peer transaction opportunity on the blockchain without external authority to validate transactions. This makes the use of cryptocurrency free from the grip of government influence of any apex financial institutions.
Countries have been adopting the use of Bitcoin and launch of national cryptocurrency to avoid economic sanctions, revitalizing their economy. Venezuela launched its national cryptocurrency last year, and recently Iran launched its crypto, the PayMon which is meant to fight its cause against economic sanctions. More countries are expected to join the trail soon.
Meanwhile, the USA, the European Union, and Israel have tagged Hamas as a terrorist organization. If the citizens of these countries are found to be behind the donations to the organization, they could face prosecution even though the donation is not much. The citizens of the countries such as Russia, China, and Turkey can make donations to the organization without aftermath prosecution because they do not regard the group as a terrorist group.