This summary text is fully AI-generated and may therefore contain errors or be incomplete.
Crypto analytics firm Elliptic has disputed recent reports claiming that terrorist groups have received significant crypto donations. The Wall Street Journal had reported that Hamas, Palestinian Islamic Jihad, and Hezbollah raised hundreds of millions of dollars in crypto between August 2021 and June 2023, based on data from Elliptic. However, Elliptic has stated that there is no evidence to support these claims and that the data has been misinterpreted. They explained that in one case, Israel’s National Bureau for Counter-Terror Financing had issued a seizure order against crypto wallets linked to Palestinian Islamic Jihad, but the funds in those wallets may not have been raised or owned by the terrorist group. Elliptic also acknowledged that Hamas had asked for Bitcoin donations in the past but emphasized that they had ended their public requests for crypto donations by April 2023. They further stated that their tools allow customers to identify and freeze illicit transfers.