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Israeli Seizure Order Shows Hamas Holds USDT, TRX, DOGE

The wallets, 84 in all, show the terrorist group has diversified its holdings far beyond bitcoin.

By Danny Nelson
AccessTimeIconJul 7, 2021 at 7:58 p.m. UTC
Updated Aug 21, 2021 at 12:32 p.m. UTC
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Israeli officials have moved to seize potentially millions of dollars in cryptocurrency from addresses it says are controlled by Hamas.

The wallets, 84 in all, hold a mix of cryptocurrencies including BTC, DOGE, ADA, XLM, XRP, ETH and others, according to files from the National Bureau for Counter Terrorist Financing. Tracing firm Elliptic estimated in a blog post that the crypto wallets have received over $7.7 million in total. 

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    • “A number of them are deposit addresses at exchanges, while others belong to brokers,” Elliptic co-founder Tom Robinson told CoinDesk.

    Of that, $4.1 million is in the USDT stablecoin and an additional $3.4 million is in bitcoin, with relatively meager amounts sprinkled across other coins. Tron's TRX accounts for $165,000, ETH for $51,000 and DOGE for $40,000, according to Elliptic's analysis.

    The blockchain-sleuthing firm said the seizure order indicates “that Hamas is now using a range of crypto assets,” an evolution of the terror group’s previous reliance on bitcoin alone. 

    Defense Minister Benny Gantz greenlit the seizure order on June 30 “having been convinced” that the wallets were linked to the terror group or used to “perpetrate a severe terror crime,” according to the seizure order.

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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

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