Saudi Press

Saudi Arabia and the world
Saturday, Dec 13, 2025

The Secret Weapon That Helps Hamas Raise Millions of Dollars

The Secret Weapon That Helps Hamas Raise Millions of Dollars

Shortly after the latest Gaza flare-up ended last month, Hamas officials boasted to The Wall Street Journal that they had pulled in record donations in cryptocurrencies.
Global media coverage of the fighting drew attention to how the militant organization had brought hundreds of thousands of viewers to its website, where they were provided instructions on how to contribute under the eyes of the authorities, and offered a QR code to facilitate the transactions.

The QR code is just one example of how Hamas has become something of a technology leader among terrorist groups, which experts say are making more and more use of Bitcoin and other cryptocurrencies to raise money. After being driven off the Coinbase cryptocurrency exchange two years ago by U.S. authorities, for instance, Hamas developed software that creates a new digital-wallet address each time a donor scans the QR code.

“Now, instead of one Hamas wallet, you have many wallets and many donors. That makes it hard to follow the money,” explains Hans-Jakob Schindler, senior director at the Counter Extremism Project, a New York-based nonprofit that builds programs to sever the financial, recruitment and material support networks of extremist groups and their leaders.

Compared to drug dealers and ransomware extortionists – hackers who take over a victim’s computer and/or data, and demand a fee to release it – international terror groups have been relatively slow to adopt cryptocurrencies. How slow is anyone’s guess; by its very nature, the use of cryptocurrency is relatively hard but by no means impossible to detect.

However, the consensus among experts is that its use is growing, spurring a kind of technological arms race, with terrorist organizations employing new technology and Bitcoin alternatives on one side, and the global enforcement authorities bent on cracking them on the other.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Alcohol Policies Vary Widely Across Muslim-Majority Countries, With Many Permitting Consumption Under Specific Rules
Saudi Arabia Clarifies No Formal Ban on Photography at Holy Mosques for Hajj 2026
Libya and Saudi Arabia Sign Strategic MoU to Boost Telecommunications Cooperation
Elon Musk’s xAI Announces Landmark 500-Megawatt AI Data Center in Saudi Arabia
Israel Moves to Safeguard Regional Stability as F-35 Sales Debate Intensifies
Cardi B to Make Historic Saudi Arabia Debut at Soundstorm 2025 Festival
U.S. Democratic Lawmakers Raise National Security and Influence Concerns Over Paramount’s Hostile Bid for Warner Bros. Discovery
Hackers Are Hiding Malware in Open-Source Tools and IDE Extensions
Traveling to USA? Homeland Security moving toward requiring foreign travelers to share social media history
Wall Street Analysts Clash With Riyadh Over Saudi Arabia’s Deficit Outlook
Trump and Saudi Crown Prince Cement $1 Trillion-Plus Deals in High-Profile White House Summit
Saudi Arabia Opens Alcohol Sales to Wealthy Non-Muslim Residents Under New Access Rules
U.S.–Saudi Rethink Deepens — Washington Moves Ahead Without Linking Riyadh to Israel Normalisation
Saudi Arabia and Israel Deprioritise Diplomacy: Normalisation No Longer a Middle-East Priority
Saudi Arabia Positions Itself as the Backbone of the Global AI Era
As Trump Deepens Ties with Saudi Arabia, Push for Israel Normalization Takes a Back Seat
Thai Food Village Debuts at Saudi Feast Food Festival 2025 Under Thai Commerce Minister Suphajee’s Lead
Saudi Arabia Sharpens Its Strategic Vision as Economic Transformation Enters New Phase
Saudi Arabia Projects $44 Billion Budget Shortfall in 2026 as Economy Rebalances
OPEC+ Unveils New Capacity-Based System to Anchor Future Oil Output Levels
Will Saudi Arabia End Up Bankrolling Israel’s Post-Ceasefire Order in Lebanon?
Saudi Arabia’s SAMAI Initiative Surpasses One-Million-Citizen Milestone in National AI Upskilling Drive
Saudi Arabia’s Specialty Coffee Market Set to Surge as Demand Soars and New Exhibition Drops in December
Saudi Arabia Moves to Open Two New Alcohol Stores for Foreigners Under Vision 2030 Reform
Saudi Arabia’s AI Ambitions Gain Momentum — but Water, Talent and Infrastructure Pose Major Hurdles
Tensions Surface in Trump-MBS Talks as Saudi Pushes Back on Israel Normalisation
Saudi Arabia Signals Major Maritime Crack-Down on Houthi Routes in Red Sea
Italy and Saudi Arabia Seal Over 20 Strategic Deals at Business Forum in Riyadh
COP30 Ends Without Fossil Fuel Phase-Out as US, Saudi Arabia and Russia Align in Obstruction Role
Saudi-Portuguese Economic Horizons Expand Through Strategic Business Council
DHL Commits $150 Million for Landmark Logistics Hub in Saudi Arabia
Saudi Aramco Weighs Disposals Amid $10 Billion-Plus Asset Sales Discussion
Trump Hosts Saudi Crown Prince for Major Defence and Investment Agreements
Families Accuse OpenAI of Enabling ‘AI-Driven Delusions’ After Multiple Suicides
Riyadh Metro Records Over One Hundred Million Journeys as Saudi Capital Accelerates Transit Era
Trump’s Grand Saudi Welcome Highlights U.S.–Riyadh Pivot as Israel Watches Warily
U.S. Set to Sell F-35 Jets to Saudi Arabia in Major Strategic Shift
Saudi Arabia Doubles Down on U.S. Partnership in Strategic Move
Saudi Arabia Charts Tech and Nuclear Leap Under Crown Prince’s U.S. Visit
Trump Elevates Saudi Arabia to Major Non-NATO Ally Amid Defense Deal
Trump Elevates Saudi Arabia to Major Non-NATO Ally as MBS Visit Yields Deepened Ties
Iran Appeals to Saudi Arabia to Mediate Restart of U.S. Nuclear Talks
Musk, Barra and Ford Join Trump in Lavish White House Dinner for Saudi Crown Prince
Lawmaker Seeks Declassification of ‘Shocking’ 2019 Call Between Trump and Saudi Crown Prince
US and Saudi Arabia Forge Strategic Defence Pact Featuring F-35 Sale and $1 Trillion Investment Pledge
Saudi Sovereign Wealth Fund Emerges as Key Contender in Warner Bros. Discovery Sale
Trump Secures Sweeping U.S.–Saudi Agreements on Jets, Technology and Massive Investment
Detroit CEOs Join White House Dinner as U.S.–Saudi Auto Deal Accelerates
Netanyahu Secures U.S. Assurance That Israel’s Qualitative Military Edge Will Remain Despite Saudi F-35 Deal
Ronaldo Joins Trump and Saudi Crown Prince’s Gala Amid U.S.–Gulf Tech and Investment Surge
×