According to WSJ, Hamas earned millions of dollars through cryptocurrency before launching its attack on Israel and finances its operation with the income it receives from cryptocurrencies.
Three groups — Hamas, Palestinian Islamic Jihad and their Lebanese ally Hezbollah — received large amounts of funds via cryptocurrency during the year before the attacks, according to Israeli government seizure orders and blockchain analysis reports.
At this point, leading crypto researcher Elliptic reported that cryptocurrency wallets affiliated with the Palestinian Islamic Jihad group received $ 93 million in crypto money between August 2021 and June 2023.
BitOK Research stated that Hamas-related crypto wallets received approximately $41 million worth of cryptocurrencies between December 2021 and June 2023.