US and UK Freeze Assets of Palestinian News Outlet for Hamas Support
US and UK sanction Gaza Now and freeze crypto assets over Hamas support claims
On March 27, the US Treasury Department and the Office of Foreign Assets Control (OFAC) announced sanctions against the Palestinian news platform Gaza Now, accusing it of supporting the Hamas group.
The sanctions include restrictions on various cryptocurrency wallets connected to the network.
The US identified an empty Bitcoin wallet, two Ethereum wallets with assets over $2,690, and five USDT wallets totaling more than $10,350 in digital currency.
However, only two of these USDT wallets had funds, one of which was associated with Gaza Now's founder, Mustafa Ayash.
The sanctions also targeted Qureshi Executives and Aakhirah Limited, along with their director, Aozma Sultana, but did not specify any cryptocurrency addresses linked to them.
The US government's actions were based on Gaza Now's alleged role in facilitating fundraising for Hamas, especially after the October 7, 2023, incidents.
Qureshi Executives and Aakhirah Limited were said to have financially supported Gaza Now.
Brian E. Nelson, Under Secretary for Terrorism and Financial Intelligence, highlighted the Treasury's dedication to limiting Hamas' financial resources.
These sanctions were coordinated with the UK, which also imposed a full asset freeze. In both countries, it's now illegal to engage in transactions with these entities or individuals.
Furthermore, according to Elliptic, a blockchain analytics firm, Gaza Now had received $21,000 in cryptocurrencies post-October attacks, with a portion of these funds being frozen by both exchanges and Tether, indicating a global attempt to disrupt the financial mechanisms supporting Hamas.
