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Hamas' Use of Crypto for Financing: Should We Be Worried?

The Wall Street Journal recently published a report claiming that Hamas and other Palestinian terrorist groups had raised $41 million in crypto between August 2020 and June 2021. The report suggested that crypto was being used to finance terrorist operations and that law enforcement was struggling to contain the flows. However, Yaya Fanusie, a former CIA staffer who has been tracking crypto financing of terrorism since 2016, argued that crypto is far from a golden ticket for groups wanting to raise money secretly. He noted that the public nature of public blockchains, exchanges, and wallet addresses opens up terrorist financing to scrutiny.

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