WEB3
by BSC News
October 26, 2023
Refuting assertions made by The Wall Street Journal and U.S. lawmakers, Elliptic's investigation revealed that Hamas had raised a significantly lower amount of $21,000 through a prominent fundraising campaign.
Elliptic, a blockchain forensics firm, has denied recent claims that Hamas raised significant amounts of cryptocurrency to aid its activities in Israel in a recent report. Highlighting discrepancies and misinterpretations in the data, Elliptic's report challenges the accuracy of the information presented by The Wall Street Journal on Oct. 10 and various lawmakers, indicating that the actual fundraising amounts are significantly lower than previously stated.
Elliptic's investigation reveals that a major Hamas fundraising effort conducted through Gaza Now, a pro-Hamas news outlet, only managed to raise $21,000 since October 7. However, a significant portion of this amount, $11,000, has been frozen through various measures, undermining the notion of substantial fundraising efforts.
While not directly refuting The Wall Street Journal's claim of $41 million raised in crypto, Elliptic's findings call into question the accuracy of the data used to arrive at this estimate. Other analytics firms like Chainalysis also contested the validity of the claims, suggesting that the reporting might have misconstrued the flow of funds to certain crypto services as belonging solely to Hamas.
Elliptic's report indicates that Hamas began soliciting Bitcoin donations as early as 2019, with contributions peaking in May 2021. However, public appeals for cryptocurrency donations ceased by April 2023, marking a notable decline in fundraising activities. The report further highlights that certain Hamas-affiliated groups have experienced frozen funds, emphasizing the ongoing efforts to curb illicit crypto transfers.
Disclaimer
Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article
Related News
Latest News
September 11, 2024
PancakeSwap Launches AI-Powered Prediction Bot on Telegram
September 11, 2024
FLOKI Completes $CAT Airdrop, But an Error Leaves Some Users Tokenless
September 11, 2024
Standard Chartered Enters UAE Crypto Market with Custody Services for Bitcoin and Ethereum
September 11, 2024
Indodax Exchange Loses $20.5M in Suspected Lazarus Group Cyberattack
September 10, 2024
Paxos to Bring Regulated Tokenization Platform to Arbitrum
September 10, 2024
Sonic Blockchain Targets $11T Unsecured Lending Market With Credit Scores for Digital Wallets
September 10, 2024
FBI Finds Crypto Fraud Losses Hit $5.6B in 2023, Up 45% from 2022
September 10, 2024
a16z Crypto Selects 21 Startups for Fall 2024 Accelerator Cohort
More News