Hamas, the Specially Designated Global Terrorist (SDGT) organization that controls the Palestinian Territory of the Gaza Strip, currently cash-poor, has asked its financial supporters to remit funds to it in Bitcoin (BTC), the world's largest cryptocurrency. The request was made through its spokesman, Abu Obeida, who acts for Hamas Izz al-Din al-Qassam Brigades, the terrorist group's military faction.
Given the OFAC sanction issued by the United States against Hamas, which has caused most international banks to prohibit the provision of any services to the organization, cryptocurrency, which operates outside normal financial channels, and has a level of anonymity and opacity that terrorist seek, it is not surprising that Hamas has resorted to seeking Bitcoin from its support network.
Iran, which is the principal backer of Hamas, is suffering financially, due to renewed US sanctions. It is using crypto currency, and is even mining Bitcoin.
NOTE: Current Bitcoin value is $3430.02 @ 1630 EDT 30 JAN19.
Chronicles of Monte Friesner - Financial Crime Analyst
Contributed by Kenneth Rijock - Financial Crime Consultant