Crypto funds intended for Hamas seized by US
According to court filings, the digital currency was held in Tether and Binance accounts connected through BuyCash, a 'Gaza-based money transfer business' allegedly involved in helping to finance Hamas.
'Terrorist organisations like Hamas and their affiliates rely on shadowy financial networks to fund their deadly operations,' US Attorney General Pamela Bondi said.
'By seizing millions in cryptocurrency, the Justice Department is aggressively dismantling the financial infrastructure of terrorism and refusing to allow our digital currency platforms to become safe havens for terrorist financing.'
The court filings allege that a man named Ahmed M M Alaqad, a partial owner of the BuyCash operation, is also suspected of supporting ISIS and Al Qaeda, among other groups.
Unsealed court documents accuse him of 'materially supporting Hamas' after the group's attack on Israel in October 2023.
According to the DoJ, the specific method of transferring funds via digital assets likely resulted in Hamas previously receiving as much as $4 million.
'These types of money transfers are a classic money laundering technique, as they intend to disguise the nature, location, ownership, and control of the funds being transferred,' read the unsealed court filings.
Despite growing enthusiasm for crypto, scepticism still abounds. Unlike fiat currencies, crypto mostly lacks an overall regulatory apparatus and is largely decentralised, making it appealing to groups with nefarious intentions.
In May, a man in the US was sentenced to more than 30 years in prison after a court found him guilty of converting $185,000 to cryptocurrency and transferring it to ISIS.
In March, an investigation originating from the FBI's field office in New Mexico has led to the seizure of $201,400 in cryptocurrency assets that was intended to finance Hamas.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
8 minutes ago
- Khaleej Times
Full statement: Macron announces France to officially recognise Palestinian State
French President Emmanuel Macron declared that France will proceed with the full recognition of the State of Palestine, marking a major diplomatic shift in the Middle East peace process. The announcement came in a letter addressed to Palestinian President Mahmoud Abbas, which Macron shared publicly on social media platform X. The French leader expressed strong support for a two-state solution and praised recent commitments made by the Palestinian Authority. "In light of the commitments you have made, France will proceed with the full recognition of Palestine as a state when I attend the United Nations General Assembly in September," Macron wrote in the letter dated July 24, 2025. Macron commended President Abbas for condemning the Hamas-led attacks of October 7, 2023. He also praised the Palestinian Authority's pledge to assume full governance across all Palestinian territories — including Gaza — as well as its commitment to implement deep reforms and hold presidential and legislative elections in 2026. He also reaffirmed France's support of a just and lasting peace in the region and emphasised the urgency of implementing a viable two-state solution. "I commend these courageous commitments and, in return, reaffirm France's mobilisation in favor of implementing the two-state solution —Israel and Palestine, living side by side in peace and security. This solution is the only viable path to address the legitimate aspirations of both Israelis and Palestinians. We must now achieve it as soon as possible," he wrote. France, together with Saudi Arabia, will co-host a high-level international conference at the United Nations aimed at advancing peaceful solutions and reviving efforts for the two-state framework. Macron's public posting of the letter on X signals a new level of French engagement on the issue, and is expected to place pressure on other European nations to follow suit in recognising Palestinian statehood. "France will seek to make a decisive contribution to peace in the Middle East and will mobilise all of its international partners who wish to take part," he added. Macron also noted: "I will pay particular attention to the implementation of a ceasefire in Gaza, the release of hostages still held by Hamas, the disarmament of Hamas, and the consolidation of the Palestinian Authority's governance across all Palestinian territories. "I am counting on your determined action in favor of a lasting peace between the Palestinian and Israeli peoples, and I ask you, Mr President, to accept the expression of my highest consideration." Check out the full statement below:
The National
2 hours ago
- The National
Rubio condemns French decision to recognise Palestinian state as policy gap widens between US and Europe
US Secretary of State Marco Rubio has condemned an announcement by French President Emmanuel Macron that his country will recognise a Palestinian state, calling it a "reckless decision". Mr Rubio described the move as a setback for peace and said it was an affront to the victims of the Hamas-led attack on Israel on October 7, 2023, that sparked the Gaza war. Mr Macron said on Thursday that France intended to recognise a Palestinian state in September at the UN General Assembly, adding that he hoped it would help bring peace to the Middle East. The announcement widens a rift between Europe and the US on policy towards Palestine, after Washington's ambassador to Israel, Mike Huckabee, said in June that he did not think an independent Palestinian state remained a US foreign policy goal. "This reckless decision only serves Hamas propaganda and sets back peace," Mr Rubio said. "It is a slap in the face to the victims of October 7." About 140 countries now recognise or plan to recognise Palestinian statehood, but France would become the biggest European power to do so, and the first G7 state. Israeli Prime Minister Benjamin Netanyahu has criticised the move, saying it "rewards terror and risks creating another Iranian proxy, just as Gaza became". "A Palestinian state in these conditions would be a launchpad to annihilate Israel, not to live in peace beside it," he added. However, there has been widespread praise for the French decision. Saudi Arabia's Foreign Ministry called it historic. "The kingdom reiterates its call for all countries that have not yet recognised the State of Palestine to take similar positive steps and adopt serious positions that support peace and the legitimate rights of the Palestinian people," it said. Jordan's Foreign Ministry also commended Paris. "This is a step in the right direction towards the realisation of the two-state solution and the end of the occupation," ministry spokesman Sufyan Qudah said in a statement. Senior Palestinian Authority official Hussein Al Sheikh praised the move, saying it "reflects France's commitment to international law and its support for the Palestinian people's rights to self-determination and the establishment of our independent state". In Europe, Spanish Prime Minister Pedro Sanchez, whose country already recognises Palestine, welcomed the announcement. "Together, we must protect what Netanyahu is trying to destroy," Mr Mr Sanchez, an outspoken critic of the conflict in Gaza. "The two-state solution is the only solution." Hamas, meanwhile, also welcomed the decision as a "positive step in the right direction towards doing justice to our oppressed Palestinian people and supporting their legitimate right to self-determination". "We call on all countries of the world, especially European nations and those that have not yet recognised the State of Palestine, to follow France's lead," it said. France will join European states Norway, Ireland and Spain in recognising Palestine. To date, only nine EU members have taken the step, making France's move significant, especially given its status as a permanent member of the UN Security Council. Mr Macron's move comes as anger mounts over the death toll in the Gaza war and the growing number of people starving in the enclave. 'The urgent thing today is that the war in Gaza stops and the civilian population is saved,″ the French President said. In Britain, Prime Minister Keir Starmer said he would hold an "emergency call" on Friday with France and Germany on the humanitarian crisis in Gaza, urging a ceasefire and steps towards Palestinian statehood. "I will hold an emergency call with E3 partners tomorrow, where we will discuss what we can do urgently to stop the killing and get people the food they desperately need while pulling together all the steps necessary to build a lasting peace," he said in a statement. "A ceasefire will put us on a path to the recognition of a Palestinian state and a two-state solution which guarantees peace and security for Palestinians and Israelis." Mr Starmer said the situation in Gaza had "reached new depths and continues to worsen". He added that the "suffering and starvation unfolding in Gaza is unspeakable and indefensible".
Khaleej Times
2 hours ago
- Khaleej Times
Hamas says French pledge to recognise State of Palestine 'positive step'
Palestinian militant group Hamas hailed France's pledge on July 24 to recognise a State of Palestine as a "positive step" and urged all countries to do the same despite Israeli opposition. "We consider this a positive step in the right direction toward doing justice to our oppressed Palestinian people and supporting their legitimate right to self-determination," Hamas said in a statement, after French President Emmanuel Macron's announcement that France would formally state its recognition in September. "We call on all countries of the world --especially European nations and those that have not yet recognised the State of Palestine — to follow France's lead," Hamas added. French President Emmanuel Macron said on July 24 his country would formally recognise a Palestinian state during a UN meeting in September, the most powerful European nation to announce such a move. Macron said the "urgent priority today is to end the war in Gaza and rescue the civilian population". "We must finally build the State of Palestine, ensure its viability and enable it, by accepting its demilitarisation and fully recognising Israel, to contribute to the security of all in the Middle East," he wrote on social media. At least 142 countries now recognise or plan to recognise Palestinian statehood, according to an AFP tally — though Israel and the United States strongly oppose the move. Several countries have announced plans to recognise statehood for the Palestinians since Israel launched a bombardment of Gaza in 2023 in response to the October 7 attacks by Hamas. Macron's announcement drew immediate anger from Israel, with Prime Minister Benjamin Netanyahu saying it "rewards terror" and poses an existential threat to Israel. Netanyahu said in a statement that the decision "risks creating another Iranian proxy, just as Gaza became", which would be "a launch pad to annihilate Israel — not to live in peace beside it".
