TechFlow News, according to the Wall Street Journal, after reviewing Israeli government seizure orders and blockchain analysis reports, it was found that Hamas, Palestinian Islamic Jihad (PIJ), and Hezbollah raised substantial funds through cryptocurrencies over the past year.
Elliptic, a cryptocurrency research firm, analyzed that digital wallets linked to PIJ received $93 million in cryptocurrency from August 2021 to last June, as claimed by Israel.
BitOK, a virtual currency analytics company, also identified approximately $41 million flowing into wallets associated with Hamas during the same period. It remains unconfirmed whether the cryptocurrency they received was directly used to finance the recent attacks on Israel. The amount of cryptocurrency seized by Israeli authorities from these wallets is also unknown.
