News - "No evidence" for large crypto donations to Hamas

By Ted Maas

"No evidence" for large crypto donations to Hamas

"Geen bewijs" voor grote cryptodonaties aan Hamas

In recent weeks, a rumor has been circulating in the crypto sector: cryptocurrencies are said to be a major source of money for Hamas. Elliptic now contradicts this: there is "no evidence" on the blockchain.

"There is no evidence to support the claim that Hamas received significant amounts of crypto donations," said Blockchain forensics company Elliptic in a statement on Oct. 25. The amounts collected "are particularly small", the forensic company added.

The reason for the analysis was a letter from U.S. lawmakers, including crypto opponent Elizabeth Warren. In it, they argue that cryptocurrencies are a "national security threat" would pose a threat to the U.S. and its allies.

"Over the past two weeks, politicians and journalists have used blockchain's public sources to spread misinformation about Hamas and other terror groups. But the [blockchain] data simply does not support this," says Elliptic.

German media also report terror financing using cryptocurrencies. "Anyone who tolerates cryptocurrencies accepts terrorist attacks," explains attorney Fabian Teichmann in an interview with ZEIT ONLINE. It seems that this argument is primarily used as a political tool.

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