{"id":451715,"date":"2023-10-26T15:00:06","date_gmt":"2023-10-26T15:00:06","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=451715"},"modified":"2023-10-26T16:51:51","modified_gmt":"2023-10-26T16:51:51","slug":"elliptic-says-wsj-and-elizabeth-warren-wrong-to-claim-that-hamas-raises-millions-via-crypto","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/elliptic-says-wsj-and-elizabeth-warren-wrong-to-claim-that-hamas-raises-millions-via-crypto","title":{"rendered":"Elliptic Says WSJ And Elizabeth Warren Wrong To Claim That Hamas Raises Millions Via Crypto"},"content":{"rendered":"<p>Blockchain analytics firm Elliptic has said there is no evidence that militant group Hamas raised millions of dollars of funds via crypto to help fund its attacks on Israel.<\/p>\n<p>&ldquo;Over the past two weeks, politicians and journalists have portrayed public crypto fundraising as a significant source of funds for Hamas and other terrorist groups, but the data simply does not support this,&rdquo; the report said. &ldquo;The amounts raised remain tiny compared to other funding sources.&rdquo;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Setting the record straight on crypto crowdfunding by Hamas <a href=\"https:\/\/t.co\/1tZrE1C43V\">https:\/\/t.co\/1tZrE1C43V<\/a><\/p>\n<p>&mdash; Elliptic (@elliptic) <a href=\"https:\/\/twitter.com\/elliptic\/status\/1717245156007522371?ref_src=twsrc%5Etfw\">October 25, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Elliptic specifically debunked an Oct. 10 article by the Wall Street Journal that <a href=\"https:\/\/www.wsj.com\/world\/middle-east\/militants-behind-israel-attack-raised-millions-in-crypto-b9134b7a\" target=\"_blank\" rel=\"noopener\">claimed<\/a> that Hamas militants raised millions in crypto.<\/p>\n<p>Its report initially claimed Hamas received $130 million worth of crypto donations between August 2021 and June 2023, but later corrected the report to say the amount raised was &ldquo;as much as $93 million.&rdquo;<\/p>\n<p>Elliptic said it also reached out to Senator Elizabeth Warren for clarity on an Oct. 17 <a href=\"https:\/\/www.wsj.com\/world\/middle-east\/militants-behind-israel-attack-raised-millions-in-crypto-b9134b7a\" target=\"_blank\" rel=\"noopener\">letter<\/a> sent to the White House that cited the WSJ article.<\/p>\n<p>&ldquo;Elliptic has engaged with the Wall Street Journal to correct misinterpretations of the level of crypto fundraising by Hamas,&rdquo; it said. &ldquo;We have been in discussions with the office of Senator Warren to ensure that the relevant parties have a proper appreciation of the complexities and nuances of analyzing these wallets.&rdquo;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">&#128680;&#128680;&#128680;<\/p>\n<p>~20% of US Congress signed a letter based on incorrect facts. Elliptic just corrected the facts. Will <a href=\"https:\/\/twitter.com\/WSJ?ref_src=twsrc%5Etfw\">@WSJ<\/a> &amp; the ~20% of Congress correct their statements now?<a href=\"https:\/\/twitter.com\/nic__carter?ref_src=twsrc%5Etfw\">@nic__carter<\/a>, thank you for demanding truth here, and holding power accountable for misstatements of fact &#128591; <a href=\"https:\/\/t.co\/TazXQnjjgW\">https:\/\/t.co\/TazXQnjjgW<\/a><\/p>\n<p>&mdash; Caitlin Long &#128273;&#9889;&#65039;&#128992; (@CaitlinLong_) <a href=\"https:\/\/twitter.com\/CaitlinLong_\/status\/1717259975255380408?ref_src=twsrc%5Etfw\">October 25, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>While evidence shows that Hamas has received some crypto donations, the amount remains small, it said.<\/p>\n<p>Elliptic referred to a popular Hamas crypto fundraising campaign by Gaza Now that has only raised $21,000 since October 7. About $9,000 of this was frozen by Tether, while another $2,000 was frozen after being sent to a cryptocurrency exchange.<\/p>\n<p>In contrast, Israel has received over $185,000 worth of crypto donations through <a href=\"https:\/\/www.wsj.com\/world\/middle-east\/militants-behind-israel-attack-raised-millions-in-crypto-b9134b7a\" target=\"_blank\" rel=\"noopener\">Crypto Aid Israel<\/a>, it said. The raised amount goes to support people affected by the attacks.<\/p>\n<h2>Chainalysis Also Corrects The Record On Elliptic<\/h2>\n<p>Chainalysis also addressed misconceptions about the amount of crypto donated to terrorism-affiliated wallets in an Oct. 18 <a href=\"https:\/\/www.wsj.com\/world\/middle-east\/militants-behind-israel-attack-raised-millions-in-crypto-b9134b7a\" target=\"_blank\" rel=\"noopener\">blog post<\/a>.<\/p>\n<p>Chainalysis referred to a wallet that received $82 million, but said that only $450,000 went to terrorism financing. The report noted that blockchain technology makes crypto transactions traceable and less suitable for illicit activities.<\/p>\n<h3>Also Read<\/h3>\n<ul>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/u-s-treasury-targets-crypto-mixers-to-rein-in-money-laundering-following-hamas-attack\">S. 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