DOJ unseals civil action against roughly $2M in digital currency involved in Hamas fundraising

BuyCash has been accused of funding Hamas and other terrorist groups, including ISIS and Al-Qaida affiliates.

Published: July 22, 2025 4:05pm

The Justice Department (DOJ) on Tuesday unsealed a civil forfeiture action that was filed against approximately $2 million in cryptocurrency held by companies connected to financial support for the foreign terrorist organization Hamas.

The digital currency was held by Tether Limited and Binance Holdings LTD accounts connected with Buy Cash Money and Money Transfer Company. BuyCash has been accused of funding Hamas and other terrorist groups, including ISIS and Al-Qaida affiliates. 

“Terrorist organizations like Hamas and their affiliates rely on shadowy financial networks to fund their deadly operations,” Attorney General Pam Bondi said in a statement. “By seizing millions in cryptocurrency, the Justice Department is aggressively dismantling the financial infrastructure of terrorism and refusing to allow our digital currency platforms to become safe havens for terrorist financing.”

BuyCash and one of its owners, Ahmed Alaqad, have been designated as having materially supported Hamas by the U.S. Department of Treasury Office of Foreign Asset Control after the October 7 attacks on Israel in 2023.

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.

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