A while back we wrote that Hamas, the terrorists that have managed to take over Gaza, was recently pleading for donations made in bitcoins. This had mostly to do with the fact that the United States had placed sanctions on Iran and prevented money from flowing into the country.
Well, recent news has revealed that Hamas has received bitcoin donations from a number of prominent crypto exchanges according to the blockchain intelligence firm based in Israel, Whitestream.
The military wing of Hamas, the Qassam Brigades, originally posited two bitcoin addresses on their official website on Thursday.
According to Whitestream, the first addresses received funds form a Coinbase wallet, while the second one seems to be unrelated to Coinbase with Hamas planning to change their bitcoin address every so often. After only have the addressed published online for a few days, around $2,500 worth of bitcoin was donated. Blockchain data has revealed around 0.75 BTC was sent to the two addresses.
Additional donations have been made to Hamas with the use of Bittrex and a Russian exchange by the name of Vilkov as well as from coinMixer.io mixing services which tries to obfuscate transactions.
Hamas has been designated a terrorist organization by the USA, the European Union, and Israel. Meaning if any citizens of these countries are caught funding this group, they will be harshly prosecuted by the state. In places like China, Russia, and Turkey where Hamas hasn’t been labeled as a terrorist group, Citizens are free to send bitcoin donations without the worry of any repercussion.
Blockchain and bitcoins have been quite the wonder to behold in the past couple of years. Seeing the massive impact it’s had on the people all over the world is quite fascinating for sure. Even so, it’s moments like these when bitcoin and cryptocurrency, in general, receive a nasty hit to its reputation for trying to develop for itself as a form of legitimate form of payments that society should open up too. Bitcoins being used to fund terrorist organization makes it really difficult to pain cryptocurrency in a positive light.