Massachusetts Sen. Elizabeth Warren is at it again. With mainstream press outlets including Germany’s Deutsche Welle running sensationalist headlines — “How cryptocurrency fueled Hamas’ terrorist attack” — Warren is using Hamas’ attack on Israel to fuel her own war on cryptocurrency.
Crypto’s role in the conflict came into focus on Oct. 10, when Israeli police froze crypto accounts used for donations to Hamas. It was not the first time. In 2021, Israel’s Terror Financing of Israel (NBCTF) seized crypto wallets linked to a Hamas fundraising campaign.
While Binance worked “closely with international counter-terrorism authorities” on the seizures, Warren led a group of more than 100 U.S. lawmakers in sending the Biden administration a letter letter asking it to crack down on Hamas and its affiliates’ cryptocurrency wallets — despite the organization’s relative struggle to raise crypto as part of its fundraising efforts.
“Congress and this administration must take strong action to thoroughly address crypto illicit finance risks before it can be used to finance another tragedy,” the letter said.
Hamas raised millions via crypto in the months leading up to their attack on Israel. @RogerMarshallMD, @RepCasten and I are leading 100+ lawmakers urging the Biden admin to address crypto-financed terrorism.https://t.co/JksREJ3Dgs
— Elizabeth Warren (@SenWarren) October 18, 2023
The lawmakers requested that the Biden administration also provide estimates on the value of crypto assets that remain in Hamas-controlled wallets, how much of Hamas’ operations are funded through crypto, and any information it has on the actors facilitating the sending of crypto to and from Hamas and other militant groups.
The U.S. Treasury Department sanctioned Gaza-based crypto broker “Buy Cash Money and Money Transfer Company (Buy Cash)” on Oct. 18, revealing it had been used for a whopping $2,000 Bitcoin transaction — a paltry sum compared to the hundreds of millions of dollars used to fund Hamas. One sanctioned wallet had $16 in it.
The treasury department has sanctioned a Hamas-linked wallet as Politico reports that “Crypto’s role in financing Hamas’ activity has emerged as a hot issue for lawmakers”
The sanctioned wallet has $16 in it and made its last transfer 18 months ago pic.twitter.com/IbsGfyZ3zl
— Conor (@jconorgrogan) October 18, 2023
“We will continue to take all steps necessary to deny Hamas terrorists the ability to raise and use…