The trends show a growing focus on terrorist groups in the Middle East from the US and its allies, particularly on entities using virtual assets to evade sanctions and/or finance terrorist activities.
OFAC-OFSI Joint Designations
coordinated sanctions on Hamas-linked individuals by OFAC and the United Kingdom’s Office of Foreign Sanctions Implementation (OFSI), on 27 March 2024.
consolidated list of financial sanctions targets in the UK. It is also the first time OFAC and OFSI have jointly designated individuals handling virtual currencies.
Ayash, a Palestinian national with Austrian citizenship, is named as the founder and operator of Gaza Now, a Hamas-aligned media organisation. He and Sultana, a UK national, were described as involved in terrorist activity by financing Gaza Now, which “promotes, encourages and supports Hamas and Palestinian Islamic Jihad”.
- TGJVc32ig2u8tQsYMLE7KXHT5NDQroaVNU (TRON: USDT)
- TH96tFMn8KGiYSLiwcV3E2UiaJc8jmcbz3 (TRON: USDT)
- 0xE950DC316b836e4EeFb8308bf32Bf7C72a1358FF (ETH and BSC)
- 3Q8H2ZWMtc4R1M3mkmhnTjCoYKTeCFigDP (BTC)
A Gaza Now-controlled address on Hoptrail's platform_
Wider Coordination**
seizure order for cryptocurrency addresses tied to donation campaigns for Hamas.
The seizure order lists 42 addresses on the TRON blockchain, describing them as the "property of a designated terrorist organisation" and prohibiting anyone from transacting with them. The order also names 11 individuals purportedly tied to Hamas. None of these wallets overlapped with those designated in the OFAC-OFSI list.
on a single Ethereum address allegedly controlled by Hezbollah operative Mehdi Mohammad Hassan, on 11 December 2023.
sanctioning of a Bitcoin address in October 2023 that was allegedly controlled by Buy Cash, a Gaza-based business offering money transfer and virtual currency exchange services. According to OFAC, Buy Cash was implicated in fundraising for Hamas and has also been used to transfer funds by affiliates of other terrorist groups.
sanctions on 11 individuals and entities involved in supporting Syrian President Bashar Al-Assad's regime.
Contained within the designation was an address on the TRON network controlled by Tawfiq Muhammad Sa'id Al-Law, an alleged Hezbollah operative. Yet another sign that the US and its partners are seeking to focus on the use of virtual currencies by terrorist organisations, but specifically on the financing of activity related to Hamas, Hezbollah and, ultimately, Iran.
targeting of three procurement networks operating out of Iran, Turkey, Oman, and Germany, on 20 March 2024. These networks were allegedly instrumental in supporting Iran’s ballistic missile, nuclear, and defence initiatives by procuring materials such as carbon fiber and epoxy resins.
A list of the most recent sanctions activity. Source: Hoptrail Platform_
Hoptrail Action**
Likewise, all clusters and wallets of entities identified in designations issued by OFAC, OFSI, and NBCTF, are listed as High-Risk on our platform.
platform today.