ICT Cyber-Desk: Identifying Money Transfers In the Service of Hamas

While investigating a Bitcoin address associated with the Popular Resistance Committees in the Gaza Strip, an irregular increase in the scope of activity has been identified compared to a previous review. A deeper review showed that the same address served a seemingly legitimate financial website by the name of cash4ps, which has been active for the past four years.

Further, the company has been identified as operating an account in a designated bank. It seems that alt least one of the web site’s managers has ties to Hamas. Moreover, an analysis of the varied financial transactions carried out through the website point out to methods of funds transfer by terror organizations into Gaza, from Gaza and within Gaza.

Even though one cannot point out with complete certainty specific transactions as done for of by terror organizations, the very nexus between the Bitcoin address, the site’s managers affiliation and the type of the site’s activity presents a variety of means to be used by terror organization to raise donations and funds, pay operatives and finance terror attacks outside of Gaza….Read Full Publication

Arend van Dam
https://www.w-t-w.org/en/arend-van-dam/