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OFAC designated social media news outlet Gaza Now and its founder Mustafa Ayash for crypto fundraising efforts aimed at supporting Hamas. 
The U.S. Department of the Treasury’s Office of Foreign Assets Control (<a href="https://crypto.news/tag/ofac/" target="_blank" rel="noreferrer noopener">OFAC</a>) alongside the U.K.’s Office of Foreign Sanctions Implementation (OFSI) jointly designated&nbsp;two individuals and three entities as key financial donors involved in crypto fundraising for <a href="https://crypto.news/tag/hamas/" target="_blank" rel="noreferrer noopener">Hamas</a>, a Palestinian Sunni Islamist political and military movement designated as a foreign terrorist organization. 
In a <a href="https://home.treasury.gov/news/press-releases/jy2213" target="_blank" rel="noreferrer noopener">press release</a> on Mar. 27, OFAC announced sanctions against Gaza Now, which operates on platforms such as Telegram, Instagram, and X, for its role in “fundraising efforts to support Hamas” following the October 2023 terrorist attack carried out by Hamas against <a href="https://crypto.news/tag/israel/" target="_blank" rel="noreferrer noopener">Israel</a>. 
<blockquote class="wp-block-quote"> 
 “Treasury remains committed to degrading Hamas’ ability to finance its terrorist activities, including through online fundraising campaigns that seek to funnel money directly to the group.” 
 Brian Nelson, Under Secretary of the Treasury for Terrorism and Financial Intelligence 
</blockquote> 
According to OFAC, following the October 2023 terrorist attack, Gaza Now began a fundraising effort in support of Hamas. 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="1024" height="897" src="https://crypto.news/app/uploads/2024/03/ijposdjfose.png" alt="OFAC targets Telegram-based news outlet Gaza Now that raised $4.5m in crypto to fund Hamas - 30" class="wp-image-14261584">
 <figcaption class="wp-element-caption">
 Gaza Now-linked crypto addresses and inflows from an Iranian exchange as well as other entities | Source: Chainalysis
 </figcaption>
</figure> 
 You might also like: <a href="https://crypto.news/ofac-targets-hezbollah-linked-crypto-financier-to-disrupt-irans-terror-funding/"> OFAC targets Hezbollah-linked crypto financier to disrupt Iran’s terror funding </a> 
Data <a href="https://www.chainalysis.com/blog/ofac-ofsi-gaza-now-sanctions/" target="_blank" rel="noreferrer noopener">revealed</a> by blockchain forensics firm Chainalysis shows that OFAC has sanctioned a few crypto addresses controlled by the media outlet, which have been used in crypto donation campaigns. In total, those addresses have received nearly $4.5 million in crypto from mixers, smart contracts, and “primarily from <a href="https://crypto.news/binance-and-hamas-connection-alleged-in-major-financing-lawsuit/" target="_blank" rel="noreferrer noopener">mainstream exchanges</a>.” 
<blockquote class="wp-block-quote"> 
 “Gaza Now makes no secret of its support for terrorist organizations. In the screenshot of its Telegram channel below, for instance, the outlet expresses praise for the Hamas-aligned Al-Aqsa Martyrs’ Brigades.” 
 Chainalysis 
</blockquote> 
The analytics firm noted that Gaza Now frequently changed crypto addresses due to increased scrutiny following the attacks and the channel’s growing number of followers. The news outlet regularly posted and then deleted donation requests, switching between various cryptocurrencies as part of these efforts, Chainalysis added. 
The latest move by OFAC represents another effort to disrupt Hamas’ operational capabilities in the wake of the October 2023 terrorist attack, which saw hundreds of Hamas militants <a href="https://crsreports.congress.gov/product/pdf/R/R47828#:~:text=On%20October%207%2C%202023%2C%20the,citizens%20in%20Israel)%20were%20killed." target="_blank" rel="noreferrer noopener">invading</a> Israel and launching thousands of rockets, <a href="https://www.csis.org/analysis/hamass-october-7-attack-visualizing-data" target="_blank" rel="noreferrer noopener">ranking</a> by the Center for Strategic and International Studies as the third-deadliest terrorist attack since 1970, trailing only behind the 9/11 attacks. 
 Read more: <a href="https://crypto.news/ofac-sanctions-russian-providers-of-digital-financial-assets/"> OFAC sanctions Russian providers of digital financial assets </a>

OFAC targets Telegram-based news outlet Gaza Now that raised $4.5m in crypto to fund Hamas

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