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Hamas Plays Whack-a-Mole Crypto Wallet While Raising $7,400 in Bitcoin
By CCN.com: The military wing of Hamas, Izz el-Deen al-Qassam Brigades, is upping its crypto game by soliciting bitcoin in a bid to deter tracking.
With its crowdfunding operation using cryptocurrencies having attracted undue attention, Izz el-Deen al-Qassam Brigades is now generating a new digital wallet for every donation received. This is according to research conducted by blockchain analysis firm Elliptic and reported by Reuters.
Previously, the group that’s classified as a terrorist organization by the EU and the United States used a single wallet. Researchers now say that this makes keeping track of the group’s crypto fundraising operation harder. With a single well-known digital wallet, it is easier for such an address to be flagged and for cryptocurrency exchanges to block transactions. But with digital wallets being frequently changed, it becomes harder to implement such an anti-terrorism measure.
Bitcoin Fundraising Exercise Not Wildly Successful
Despite its best efforts, Izz el-Deen al-Qassam Brigades has been mildly successful with its crowdfunding exercise. Elliptic estimates that Izz el-Deen al-Qassam Brigades has raised less the two bitcoins since the fundraising exercise kicked off.
Specifically, the group generated $7,400 which translates to around 1.4 bitcoin at current prices. Approximately, 0.6 bitcoin was sent between March 26 and April 16 this year. Early February Hamas had collected $2,500 via this method.
$2,500 Collected: Hamas Begged for Bitcoin Donations. The Islamist Group’s Followers Were Listening. https://t.co/nBFRmt7gDk #Blockchain #SmartContracts #in
— Diego Torres (@_DiegoTorres) February 6, 2019
