Delhi Police’s Intelligence Fusion and Strategic Ops (IFSO) division has carried out a detailed investigation into a recent cryptocurrency wallet hack. The theft dates back to 2019, and the attacker has been identified as related to Hamas, a terrorist organization, as confirmed by the Times of India.
The wallet attack resulted in stolen cryptocurrency worth $536,000 at today’s rates. Police authorities established the funds were most likely syphoned off to fund the al-Qassam Brigades, which is Hamas’ military division.
The stolen currencies varied and included Bitcoin, Ethereum and Bitcoin Cash. Commenting on the findings, the IFSO said: “The seized wallet belonged to Mohammad Naseer Ibrahim Abdulla. Another wallet, in which cryptocurrencies had been transferred, belonged to Ahmed QH Safi from Ramallah in Palestine.”
Some of the money was channeled through a gambling website in the UK, whereas another portion of the funds went to indecent portals. Using cryptocurrencies to fund terrorist groups and rogue governments – see North Korea – has long been the modus operandi of such illegitimate organizations.
Hamas has been benefiting from a wave of backers as well. When the conflict between Israel and the Gaza Striped escalated last year, Hamas reported an increase in Bitcoin donations. “There was definitely a spike. Some of the money gets used for military purposes to defend the basic rights of the Palestinians,” the official was cited saying.
The police’s success is also indicated in the way traditional law enforcement has come to adapt to the challenges of a digital age.