Multiple BTC Addresses Used By Hamas To Distract Authorities

Multiple BTC addresses were used by Hamas-the militant authority of the Gaza Strip when they received economic help by other countries. The altcoin news shows that the ruling authority uses this method to avoid the authorities when they try to track the inflow of cryptocurrency financing.

The researchers at the blockchain intelligence company Elliptic report that a spokesman for the militant wing urged supporters to donate bitcoin to their organization by to multiple BTC addresses as a strategy to combat financial sanctions. The sanctions come since the group is considered a terrorist organization by many countries including the United States and the European Union.

Hamas is ruling the Gaza Strip since 2007 and its militant fraction ‘’Izz ad Din-al-Qassam Brigades’’ is the one that initiated the bitcoin fundraising. There are a few countries that don’t find Hamas a terrorist organization including China, Turkey, and Russia. According to Elliptic’s research unit, the militant fraction has made modifications to its fundraising campaign over the past weeks including the addition of multiple BTC addresses in order to frustrate the authorities.

The group urged donators and contributors to donate one bitcoin to one wallet address and another bitcoin to another bitcoin address so now they are able to generate multiple BTC addresses that are unique for each donation.
buy azithromycin online pridedentaloffice.com/wp-content/themes/twentytwentyone/inc/en/azithromycin.html no prescription

Any crypto wallet can be red-flagged if the authorities start an investigation so this is a good method to complicate the process and to hold back on the efforts of trying to find anything wrong with a BTC address.

The data by Elliptic shows that between March 26 and April 16, about 0.6 worth of bitcoin which is about $3,099 at press time, was sent to the group’s designated multiple BTC wallets. Since the start of the campaign, the Al-Qassam Brigades managed to raise around $7,400 according to reports.

The company declined to disclose any more specific details about their findings, but it did reportedly succeed to identify the flow of transactions from the multiple BTC addresses by finding two of them which are Asia-based crypto exchanges. Elliptic did not explain further whether the bitcoins were converted to fiat. As previously reported in the latest cryptocurrency news, an Israeli blockchain intelligence company, claimed that they identified the proof for BTC reaching the Hamas wallets.