The U.S. Treasury Department has imposed sanctions on individuals and organizations it says were part of a fundraising network that collected more than $2 million for Hamas between 2020 and 2026, including hundreds of thousands of dollars raised through cryptocurrency.
The department designated a member of Hamas’s military wing, two individuals based in France and two charities over their alleged involvement in the six-year operation. Treasury said the network used purported humanitarian donations alongside crypto transfers to channel money to Hamas.
Treasury said Faouzi Barika and Amel Oualid raised money in France while presenting the collections as humanitarian fundraising before sending the proceeds to Hamas. The group is designated as a terrorist organization in numerous jurisdictions and has governed the Gaza Strip since 2007.
Of the more than $2 million raised by the network, $1.5 million was collected after Hamas’s Oct. 7, 2023, attack on Israel, Treasury said. The department also alleged that Barika and Oualid transferred hundreds of thousands of dollars in cryptocurrency to Saleem Abdallah Saleem al-Zaq, a Gaza-based deputy battalion commander in Hamas’s Al-Qassam Brigades. Treasury did not indicate that all of the funds raised by the network were transferred using crypto.
The sanctions underscore how U.S. officials are examining cryptocurrency as one part of broader financial networks used for fundraising and payments. Treasury officials have previously said Hamas and other groups continue to depend mainly on traditional financial channels, even though authorities have pursued crypto-related sanctions and seizures.
The action comes after reports last month that the Al-Qassam Brigades told supporters to avoid making direct cryptocurrency transfers from Binance. The group reportedly encouraged the use of other crypto services before funds were moved to a TRON wallet.
The sanctions block any property or interests in property held by the designated parties that fall within U.S. jurisdiction. U.S. persons are generally prohibited from conducting transactions with those individuals and organizations. Foreign financial institutions that knowingly facilitate significant transactions involving the sanctioned parties may also face secondary sanctions. The restrictions extend to companies that are 50% or more owned, directly or indirectly, by one or more designated parties.
“Terrorist organizations like Hamas rely on sophisticated financial facilitators and fraudulent schemes designed to exploit the public,” Treasury Secretary Scott Bessent said.
