Crypto Firm Elliptic Sets the Record Straight, Says Scale of Hamas Terror-Funding is Misrepresented
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Table of Contents Blockchain forensics firm Elliptic reported the recent numbers used to portray the scale of cryptocurrency fundraising by the terror group Hamas are misrepresented. The firm says there is little evidence to prove terrorist groups are using crypto successfully. No Evidence to Suggest Hamas is Successfully Using Crypto This is crazy – an inaccurate WSJ article (citing evidence from Elliptic) caused 20% of congress to sign a letter. Elliptic has now refuted the evidence in the WSJ article.@WSJ will you issue a retraction/correction? https://t.co/Sw2etO9oRT — Brian Armstrong 🛡️ (@brian_armstrong) October 26, 2023 Blockchain analytics firm Elliptic has refuted an article published by the Wall Street Journal entitled “Hamas Militants Behind Israel Attack Raised Millions in Crypto,” saying there is little evidence to support these claims. In an October 17 letter to the White House and Treasury, more than 100 lawmakers cited the WSJ reports, which states: “ […] in the months leading up to their brutal and horrific October 7th attack on Israel, Hamas and Palestinian Islamic Jihad (PIJ) raised millions of dollars in crypto – evading US sanctions and funding their operations. Indeed, between August 2021 and this past June, the two groups raised over $130 million in crypto.” Elliptic disputes these claims by saying: “However, there is no evidence to suggest that crypto fundraising has raised anything close to this amount, and data provided by Elliptic and others has been misinterpreted. We have spoken to representatives of the lead signatory, Senator Warren, as well as the authors of the Wall Street Journal article, to clarify this.” Elliptic Fights Against Mainstream Media’s Attempt to Smear Crypto with Terrorist Financing Accusations The blockchain analytics provider explained that while Hamas solicited bitcoin donations in 2019, it discontinued public-facing crypto fundraising in April after citing “concern about the safety of…
Filed under: News - @ October 26, 2023 3:14 pm