Recent estimates of crypto funding for terrorist organizations like Hamas and the Palestinian Islamic Jihad (PIJ) may have been exaggerated, according to blockchain analysis firm Chainalysis. In a blog post, the company argues that some analyses have mistakenly attributed all transactions sent to crypto service providers as terror financing. Chainalysis estimates that the actual amount of funds received by terrorists is around $450,000, rather than the claimed $82 million. The firm emphasizes the importance of conducting know-your-customer due diligence and working closely with law enforcement to label wallets associated with terrorists. While cryptocurrencies are less ideal for terrorism financing due to their transparency, Chainalysis believes that disrupting even small flows is crucial. The company cites successful efforts in seizing crypto funds related to Hamas, Hezbollah, and other groups. In recent developments, Binance assisted Israel in seizing accounts tied to terrorist groups, while Tether froze 32 crypto addresses connected to funding warfare efforts in Israel and Ukraine.

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