Palestinian Islamist political organization and militant group Hamas is joining the digital currency revolution by adopting Bitcoin to fund its resistance movement.
In an unprecedented step to elude the prying eyes of Israeli intelligence, Hamas has opened its own Coinbase and Binance accounts to anonymously keep the money flowing.
Hamas, which has been tagged as a terrorist organization by the United Nations (UN), has taken serious strides to call on its supporters via social media to help it run its operations by asking for donations and promoting its armed struggle.
In a Telegram statement issued this week, Hamas said that “The Zionist enemy is fighting the Palestinian resistance through an attempt to cut off aid to the resistance by any means.”
The post further noted that “Lovers of the resistance all over the world, however, are combating these Zionist attempts, and are looking for all possible means to aid the resistance.”
Whitestream, the Israeli intelligence agency keeping tabs of Hamas underground dealings, revealed that it detected crypto transfers made to a Coinbase account that is apparently owned by Hamas.
Bittrex and Binance accounts
Whitestream has also discovered that Hamas is also using Bittrex and Binance accounts, in addition to a wallet that it transacts with virtual currency payment portal, CoinPayments.
These transactions – part of an elaborate scheme to hide the group’s different methods that employ the services of banks and online currency exchanges – may have been blocked as such violates Coinbase’s policies on terror funding which includes other illegal activities.
Since disclosing its purpose, Hamas has since undertaken a massive public information drive to explain the importance of bitcoin, especially its unregulated nature.
Hamas is fundamentally using a ploy long adopted by global terror group ISIS add Hezbollah to fund their illicit activities through avenues that are almost unnoticeable. Iran also capitalizes on bitcoin for its anonymous transactions.
Meanwhile, another bitcoin wallet that is not linked to Coinbase received electronic funding in two batches that totals around $2,500, allegedly tied to the Palestinian terror group.