Hamas terrorists are funded through the Russian cryptocurrency exchange of Garantex - WSJ

More transactions are carried out through the Russian cryptocurrency than it was before the start of a full -scale invasion of Ukraine. For the Russian Federation and other groups, Garantex has become an alternative after sanctions. Garantex cryptocurrency sends tens of millions of dollars in cryptocurrency to Hamas fighters despite western sanctions. About it reports The Wall Street Journal.

Last year, the United States imposed sanctions on the Moscow cryptocurrency to prevent Russian attempts to bypass the financial blockade for invasion of Ukraine. However, the authors state that after the year, the Garantex Exchange is thriving. According to trading data and sources, the Russians continue to use the cryptocurrency. It is now increasing as a global channel for laundering and financing fighters.

It is noted that Palestinian militants partially financed their attack on Israel on the eve of the commencement of hostilities on October 7. The digital wallets of Islamic jihad, who joined Hamas, received $ 93 million through Garantex. In the US, in 2022, the Ministry of Finance reported that gaps in the control of financial crimes on cryptocurrency exchanges could be allowed to abuse them by a terrorist group. The same was said by the Minister of Defense of Israel Joava Galant.

The Russian Federation uses cryptocurrency to transfer rubles to other currencies, this is in cash in Garantex offices. Instead, they receive steiblcoins, some of which are attached to the US dollar. You can then get money into cash abroad using a local partner network.

According to the CryptodaPrika cryptodist, in July, clients' transactions on the platform amounted to about $ 865 million, which is more than three times higher than the amount it processed for a month when sanctions were imposed on it. The Russian Federation does not hide that they use cryptocurrency for calculations. The Ministry of Finance says this is an alternative way to fund. In addition, there are no alternatives to Garantex in Russia.