Bitcoin (BTC) sent to Hamas through Coinbase/Binance accounts

03 Feb, 2019
by David Robb
Bitcoin (BTC) sent to Hamas through Coinbase/Binance accounts

Palestinian resistance group Hamas arranged to receive funding in Bitcoin (BTC) from Coinbase and Binance accounts. The transfers were blocked when they were detected by Israeli blockchain intelligence company Whitestream, as reported by Globes.

Hamas, which has been designated a terrorist organization by the United Nations, requested funding in a post on Telegram. It shared a Coinbase wallet address and stated that "The Zionist enemy is fighting the Palestinian resistance through an attempt to cut off aid to the resistance by any means. 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."

Transfers made to a Coinbase account apparently belonging to Hamas were detected by Whitestream. They may have been blocked, as they contravene Coinbase's policies regarding funding of terrorism and other illicit activities. Another BTC wallet unrelated to Coinbase received funding in two transactions, together totalling around $2,500.

Whitestream found that Hamas is also apparently using Binance and Bittrex accounts, as well as a wallet belonging to crypto payment gateway CoinPayments. 

Read more: Why hasn't the SEC approved a Bitcoin ETF yet?Will Bitcoin replace fiat money?

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