U.S. Treasury sanctions five parties over alleged $2 million Hamas fundraising network
Treasury moves against an alleged $2 million Hamas fundraising network
The U.S. Treasury Department has imposed sanctions on five parties over the alleged raising of more than $2 million for Hamas, the Palestinian militant group. The designated parties are a member of Hamas's military wing, two individuals based in France, and two charities.
Treasury says the money was collected between 2020 and 2026 through a fundraising operation that used cryptocurrency and what were presented as humanitarian donations. Sanctions freeze any assets the designated parties hold under U.S. jurisdiction.
The numbers behind the designations
- More than $2 million raised over six years, from 2020 to 2026.
- About $1.5 million of that total was raised after the Oct. 7, 2023 attack on Israel.
- Hundreds of thousands of dollars were sent in cryptocurrency to a Hamas commander in Gaza.
- Treasury did not say the full $2 million moved in crypto.
- Five parties designated: one Hamas military-wing member, two France-based individuals, and two charities.
What Treasury says about the money trail
Treasury alleges that Faouzi Barika and Amel Oualid raised money in France for humanitarian causes and then transferred it to Hamas. The department says Hamas is designated as a terrorist organization in a number of countries and has governed the Gaza Strip since 2007.
Treasury also alleges that Barika and Oualid sent hundreds of thousands of dollars in crypto to Saleem Abdallah Saleem al-Zaq, described as a Gaza-based deputy battalion commander in Hamas's Al-Qassam Brigades. Crypto here means digital assets sent over a blockchain network, a public record of transactions that does not depend on a bank or payment company.
In the action cited by CoinDesk, Treasury said that terrorist organizations like Hamas rely on sophisticated financial facilitators and fraudulent schemes designed to exploit the public. CoinDesk's report did not name the Treasury official who made that statement.
Where crypto fits into the picture
The sanctions do not portray crypto as Hamas's main way of getting money. Treasury officials have previously said Hamas and other groups still rely mainly on conventional finance, even after they were hit with crypto-related sanctions and asset seizures.
CoinDesk reported in September 2026 that the Al-Qassam Brigades advised donors not to send money directly from Binance, and to use other crypto services before moving funds to a TRON wallet. A wallet is the account or address used to hold and send digital assets on a blockchain.
What the sanctions actually block
Because of the designations, property and interests in property held by the named people and organizations under U.S. jurisdiction are blocked. People in the United States are generally barred from doing business with them. Foreign banks or other financial institutions that knowingly help significant transactions for the designated parties could face secondary sanctions, which are penalties imposed on a country or its institutions by the United States.
The restrictions also apply to companies owned 50% or more, directly or indirectly, by one or more designated parties.
What is confirmed, and what is not
Confirmed by the source material: the Treasury Department issued the sanctions, the five parties were designated, and the measures freeze U.S.-jurisdiction assets and generally bar transactions with them.
Not independently confirmed: the claim that more than $2 million was raised for Hamas, and the specific allegation that hundreds of thousands of dollars in crypto went to al-Zaq, come from Treasury. The supplied material does not include a court filing, a named defendant statement, or independent financial records that verify these claims.
Why the framing matters
The case shows U.S. authorities treating crypto as one tool inside a wider fundraising and payment system, built around charities and donors, rather than as the main channel for funding. That matches earlier statements from Treasury officials that militant groups depend mostly on traditional finance. It also shows sanctions tools built for banks and charities being applied to a mix that includes digital assets.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.