FinCEN has reportedly said that the amount of crypto used by Hamas might be overstated and not certain, thus investigating about $165 million involved in suspected transactions.
The US Treasury Department is investigating about $165 Million involved in crypto transactions registered with US institutions that might have supported Hamas before its October 7, 2023, attack against Israel, as stated in the Wall Street Journal.
FinCEN on the usage of Crypto by Hamas
Citing Congress in its latest report, the Wall Street Journal reported that the Treasury’s Financial Crimes Enforcement Network (FinCEN) has highlighted suspicious activities that took place in the last three years. It potentially includes the transactions that involved Hamas
The exact amount of crypto Hamas used is not known, as per the report. FinCEN suggests that the amount of Hamas’s cryptocurrency usage is expected to be less than initially thought. It indicates that only a fraction of the transactions might
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