🚀Attention BTC enthusiasts!🚀 The US and UK authorities are cracking down on crypto-linked terrorism financing following the October 7th attacks on Israel. Fresh sanctions have been imposed on two individuals and three entities, including Gaza Now, a Gaza-based social media outlet, and two London-based businesses, Al-Qureshi Executives and Aakhirah Limited. These entities allegedly facilitated fundraising efforts for Hamas.

🔍Blockchain intelligence firm Chainalysis found that Gaza Now has been running crypto donation campaigns for quite some time, with some addresses flagged for receiving funds since 2021. However, the pro-Hamas online media channel frequently changed donation addresses, posting and deleting donation requests, and even switching between various cryptocurrencies following increased attention after the October 7 attacks.

💰Chainalysis also discovered that all the inflows mainly originated from mainstream crypto exchanges. The flagged addresses received money from three wallets that were previously seized by the National Bulk Cash Smuggling and Counterfeit Task Force (NBCTF), as well as from an Iranian exchange in Iran and a money services business (MSB) in Gaza. Gaza Now’s personal wallets received slightly more than $40,000 in various crypto assets.

🕵️‍♂️Instant exchanges, crypto tumblers, and smart contracts have also facilitated these fund transfers, indicating donors’ attempts to conceal their activity. Gaza Now’s incoming transactions were found to be of various amounts, with most being under $10,000. Chainalysis speculated that larger transfers might have been internal movements of funds by the entity or its associates rather than donations.