Overview
- Israeli forces confirmed on Sunday that a strike killed Hussein Qadra and Mohammed Farra, whom the military identified as managers of a funding network that sent over 500 million shekels (about $140 million) to Hamas.
- Investigators say the network routed money through couriers and money exchangers based mainly in Turkey and the Gaza Strip, using informal transfer methods that leave no public ledger.
- The IDF and reporting link the funds to payments for militants’ salaries and financing of military operations in Gaza.
- Authorities found no cryptocurrency wallets, blockchain traces, or exchange accounts tied to the network, and analysts say stronger regulation and better blockchain forensics likely made crypto riskier for large, sustained transfers.
- The strikes build on earlier June operations against other finance managers and could shift policy and enforcement focus toward disrupting traditional hawala-style channels while sustaining demand for blockchain-tracing firms.