RATE Group | Hamas looks to boost Bitcoin funding in wake of Iran crisis
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Hamas looks to boost Bitcoin funding in wake of Iran crisis

20 Jan Hamas looks to boost Bitcoin funding in wake of Iran crisis

Posted at 18:13h in Bitcoin News by

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As pressure from the international community mounts on Iran, Palestinian terror-group Hamas is pushing for more anonymous donations in Bitcoin through a website called “cash4ps”, according to the Jerusalem Post.

An International Institute for Counter-Terrorism (ICT) report found that Hamas, which heavily relies on the Iranian regime for funding, has now turned to Bitcoin donations to make up for any funding shortfalls.

The ICT report states that the cash4ps website has been established expressly to allow Hamas to send and receive money from Gaza while providing some anonymity to donors.

Investigators noted an “irregular increase in the scope of activity” by the Hamas associated address, which has over 4,500 transactions to date totalling over $23 million in BTC.

The Bitcoin Abuse Database has also identified the wallet as a Hamas fundraising account, and it’s believed that the Islamic National Bank has been associated with funds sent to the wallet.

The funds have been…

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