- The US DOJ announced seizing crypto funds that are believed to be laundered by the Hamas group.
- Over the past year, the community saw new integrations of cryptocurrency in the military sector.
The crypto market has revisited the bearish lane in the last few hours, as Bitcoin recedes to the $86,000 level. This has caused other altcoins to witness modest dips in the past day. Meanwhile, the DeFi sector has seen improvements over the last 24 hours, with projects shifting from L1 to L2.
Meanwhile, the US Department of Justice announced, in the past day, that large crypto funds would be confiscated. The regulator believes that it was meant to benefit the alleged militant group Hamas. The DOJ has seized funds worth approximately $201,400.
According to their official statement, the assets resulted from a fundraising going on since October 2024. The wallet addresses which were involved are believed to be connected to the Hamas group. The DOJ says that they have been laundering nearly $1.5 million since October.
Sue J. Bai, head of the DOJ’s National Security Division, said:
“At Attorney General Pam Bondi’s direction, the Department of Justice is committed to dismantling Hamas using every tool at our disposal”
Furthermore, the DOJ’s statement revealed several departments being involved including the FBI. The investigations said that there exists a group chat with connections to Hamas on an encrypted platform. This chat provides Hamas supporters worldwide with a set of 17 changing cryptocurrency addresses.
Is the DOJ Highlighting Rising Crypto Involvement in Military?
Over the past year, there have been certain instances that saw cryptocurrency connections to the Military. For instance, in September 2024, Russia launched crypto trials for military goods trading. It plans to use crypto as a payment method for military and civilian-related imports.
Later, in January 2025, certain officials raised a bill in Arkansas to ban crypto mining near military zones. However, the bill was rejected suggesting further integration of the two sectors.
On the other hand, the DOJ’s recent bust showed the measures taken to counter the misuse of funds within the sector. Although a crypto integration into the military can have benefits, the regulator is cautious to avoid conflicting applications such as discussed earlier.
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