Treasury crackdown exposes crypto's role in $2 million Hamas fundraising network
60-second summary
The U.S. Treasury reveals a covert network that raised over $2 million for Hamas by exploiting fake humanitarian charities, funneling hundreds of thousands of dollars through cryptocurrency transactions; investigators trace the digital funds to multiple wallets linked to the extremist group, highlighting how crypto’s anonymity aids illicit financing and prompting tighter regulatory scrutiny across the industry.
The Treasury Department said the network raised more than $2 million through purported humanitarian charities, including hundreds of thousands of dollars sent in crypto.