Treasury targets Hamas crypto financing network

• The U.S. Treasury designated five individuals and entities linked to a Hamas financing network.
• The network moved more than $2 million to Hamas, including hundreds of thousands through cryptocurrency.
• The action blocks US-linked property and targets financial channels supporting Hamas operations.

The U.S. Department of the Treasury has sanctioned five individuals and entities linked to a Hamas network that moved more than $2 million.

The network used sham charities and cryptocurrency channels to collect and transfer funds to Hamas.

“Treasury will continue to identify, isolate, and impose consequences on those who provide Hamas with the financial lifelines it needs to survive,” US Treasury Secretary Scott Bessent said in a statement.

The Treasury said two France-based fundraisers collected over $2 million between 2020 and 2026.

“Terrorist organizations like Hamas rely on sophisticated financial facilitators and fraudulent schemes designed to exploit the public to sustain their operations,” Bessent said.

The Treasury said hundreds of thousands of dollars in cryptocurrency were sent to Hamas-linked financier Saleem Abdallah Saleem al-Zaq.

The network collected $1.5 million after the October 7, 2023 Hamas attack on Israel, according to Treasury.

The action marks a tougher US effort to disrupt cryptocurrency channels used to finance Hamas.