DOJ 'disrupts Hamas terrorist' scheme by seizing crypto held in USDT

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The Block2025/03/26 16:00

By:By RT Watson

Quick Take U.S. Department of Justice said it seized about $200,000 worth of USDT “intended to benefit Hamas.

DOJ 'disrupts Hamas terrorist' scheme by seizing crypto held in USDT image 0

The U.S. Department of Justice said it has disrupted a "Hamas terrorist financing scheme" with the seizure of about $200,000 of cryptocurrency.

The DOJ said the seized cryptocurrency was being "held in wallets and accounts intended to benefit" Hamas, according to a press release . "The seized funds were traced from Hamas fundraising addresses, purportedly controlled by Hamas, that were used to launder more than $1.5 million in virtual currency since October 2024."

The roughly $200,000 in seized crypto was in USDT, the world's largest stablecoin by supply, which is issued by Tether.

According to the DOJ, a group "claiming association with Hamas on an encrypted communications platform" had been directing Hamas supporters to donate money to more than a dozen crypto wallets, the release said. "Those funds were sent into an operational wallet and laundered through a series of virtual currency exchanges and transactions by leveraging suspected financiers and over-the-counter brokers."

Identifying and disrupting Hamas' attempts to use cryptocurrency to fund terrorist activity has been ongoing.

Roughly a year ago, the U.S. Treasury Department announced it was investigating $165 million in crypto transactions processed through U.S. institutions that allegedly supported Hamas before its October 7, 2023, attack on Israel, which killed approximately 1,200 people, including 40 American citizens.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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