The Office of Foreign Assets Control (OFAC) under the U.S. Department of the Treasury has announced the enforcement of a fifth round of sanctions on Hamas following the terrorist attack on Israel on October 7.
In a statement released on January 22, the U.S. Treasury Department revealed that it has placed additional sanctions on Hamas in response to the 2023 terrorist incident in Israel. The new sanctions specifically target networks of Hamas-linked exchanges in Gaza, as well as their owners, associates, and financial facilitators involved in transferring funds, including cryptocurrencies, from the Islamic Revolutionary Guard Corps-Qods Force to Hamas and Palestinian Islamic Jihad in Gaza.
According to the Treasury, Hamas has been using various methods, including cryptocurrencies, to move funds from Gaza to the West Bank. Herzallah Exchange and General Trading Company LLC, known as Herzallah Exchange, owned by Muhammad Fallah Kamil Hirzallah, Na’im Kamil Raghib Hirzallah, and Salah Kamil Raghib Hirzallah, have been identified as facilitating transactions, including through the use of cryptocurrencies. Similarly, Samir Herzallah and Brothers For Money Exchange and Remittances, known as Samir Exchange, have been collaborating with Hamas to facilitate money transfers, the Treasury stated.
The specific cryptocurrencies used by these exchanges for financial transactions have not been disclosed in the report. In collaboration with the United Kingdom and Australia, U.S. authorities have also imposed sanctions on key Hamas officials and facilitators, as per the report.
Earlier, the cyber unit of Israel Police’s Lahav 433 took action by blocking crypto accounts belonging to Hamas shortly after the militant group’s attack against Israel, resulting in civilian casualties. Reports indicate that Israel instructed Binance to locate and close the accounts on its platform. Additionally, Lahav 433 reportedly sought assistance from U.K. police to block a Hamas-related account in Barclays Bank.