Blockchain analytics supplier Elliptic refuted claims made in a Wall Avenue Journal article that misinterpreted its knowledge and incorrectly stated Hamas raised hundreds of thousands in cryptocurrencies.
Elliptic’s rebuttal is a response to an article from the Wall Avenue Journal (WSJ) titled “Hamas Militants Behind Israel Assault Raised Thousands and thousands in Crypto” and comparable items by two WSJ authors; Angus Berwick and Ian Talley.
Senator Elizabeth Warren used the report as her sole quotation in a letter pushing for added anti-crypto measures and techniques on Oct. 17.
Over 100 lawmakers, 20 % of the U.S. Congress, signed Warren’s letter alleging that Hamas raised north of $90 million in Bitcoin and cryptocurrencies. The doc was addressed to prime nationwide securities businesses just like the Treasury Division.
There isn’t any proof to recommend that crypto fundraising has raised something near this quantity, and knowledge supplied by Elliptic and others has been misinterpreted. We have now spoken to representatives of the lead signatory, Senator Warren, in addition to the authors of the Wall Avenue Journal article, to make clear this.
Elliptic, Blockchain knowledge supplier
On Oct. 19, the U.S. Division of the Treasury’s Monetary Crimes Enforcement Community declared crypto mixers a menace to nationwide safety and proposed new laws to fight crypto’s use for financing acts of terror.
The response from Elliptic following two weeks’ value of reporting linking crypto and terrorism additional dispelled misconceptions about blockchain and privateness.
The transparency of the blockchain permits illicit funds to be traced, and in some circumstances linked to real-world identities… A full understanding of blockchain evaluation and the context of any evaluation is required when utilizing these insights to attract conclusions.
Elliptic, Blockchain knowledge supplier
Moreover, Elliptic famous that humanitarian entities like Crypto Help Israel have leveraged digital property to assist households affected by the battle whereas Hamas has turned in direction of much less trackable currencies and monetary techniques.
crypto.information additionally reported crypto seizures by the Israeli state geared towards blocking funding to unhealthy actors within the area.