U.S. Sanctions Hamas Network Over $2 Million Crypto Scheme

The Treasury Department’s Office of Foreign Assets Control announced the designations Oct. 2. The action targets Saleem Abdallah Saleem al-Zaq, a deputy battalion commander in Hamas’ Al-Qassam Brigades; France-based fundraisers Faouzi Barika and Amel Oualid; and two organizations they controlled, Association Baraka and Ensemble C Mieux.

According to Treasury, the network collected more than $2 million for Hamas from 2020 through 2026. About $1.5 million was raised after the group’s Oct. 7, 2023, attack on Israel. Barika and Oualid allegedly sent hundreds of thousands of dollars in cryptocurrency to al-Zaq, who directed the funds to the Al-Qassam Brigades.

Al-Zaq also promoted the fundraisers’ donation accounts on social media, Treasury said. The department identified him as a trusted Hamas member who worked as a photographer in the group’s media office and attended official events near senior Hamas officials.

“Terrorist organizations like Hamas rely on sophisticated financial facilitators and fraudulent schemes designed to exploit the public to sustain their operations,” Treasury Secretary Scott Bessent said in the announcement. “Treasury will continue to identify, isolate, and impose consequences on those who provide Hamas with the financial lifelines it needs to survive.”

The designations were issued under Executive Order 13224, as amended, which targets terrorism financing. Any U.S.-based assets held by the designated individuals or organizations are blocked. U.S. persons generally cannot conduct transactions with them. Foreign financial institutions that knowingly facilitate significant transactions for the designated parties may face secondary sanctions.

The investigation was led by the FBI and involved authorities in multiple jurisdictions. Treasury previously announced the seizure of about $560,000 in cryptocurrency linked to Hamas and designated a Tren de Aragua network accused of laundering proceeds from ATM thefts through digital assets.