The U.S. Treasury is investigating a suspected $165 million cryptocurrency transaction related to Hamas

2024-03-14 09:31:16

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ChainCatcher news, according to CoinDesk, the department of the U.S. Treasury responsible for combating the financing of terrorism has stated that multiple financial institutions have reported potential cryptocurrency transactions totaling $165 million that may be related to Hamas.

According to a letter signed by U.S. Treasury Deputy Secretary Adewale Adeyemo, the Financial Crimes Enforcement Network (FinCEN) analyzed suspicious activity reports submitted from January 2020 to October 2023. FinCEN found that over 200 cryptocurrency addresses may have been used in these transactions.

It is reported that the U.S. Treasury is currently conducting "ongoing analysis" to assess the potential threats posed by cryptocurrencies and cryptocurrency services. The letter stated: "We continue to assess Hamas and other terrorists' preference for traditional financial products and services, but we remain concerned that as we cut off their access to traditional finance, these organizations will increasingly turn to virtual assets."

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