Crypto lacks an regulatory apparatus and is largely decentralised, making it appealing to groups with nefarious intentions. Getty Images
Crypto lacks an regulatory apparatus and is largely decentralised, making it appealing to groups with nefarious intentions. Getty Images
Crypto lacks an regulatory apparatus and is largely decentralised, making it appealing to groups with nefarious intentions. Getty Images
Crypto lacks an regulatory apparatus and is largely decentralised, making it appealing to groups with nefarious intentions. Getty Images

Hamas-bound crypto funds worth $2 million seized by US


Cody Combs
  • English
  • Arabic

About $2 million in cryptocurrency assets intended for Hamas has been seized by the US government, recently unsealed court forfeiture documents from the US Department of Justice have shown.

According to court filings, the digital currency was held in Tether and Binance accounts connected through BuyCash, a “Gaza-based money transfer business” allegedly involved in helping to finance Hamas.

“Terrorist organisations like Hamas and their affiliates rely on shadowy financial networks to fund their deadly operations,” US Attorney General Pam Bondi said.

According to the US Department of Justice, Ahmed Alaqad is suspected of supporting various terrorist organisations. Photo: Pacer
According to the US Department of Justice, Ahmed Alaqad is suspected of supporting various terrorist organisations. Photo: Pacer

“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.”

The court filings said a man named Ahmed Alaqad, a partial owner of the BuyCash operation, is also suspected of supporting groups including ISIS and Al Qaeda. Unsealed court documents accuse him of “materially supporting Hamas” after the group's attack on Israel in October 2023.

According to the Department of Justice, the specific method of transferring funds through digital assets is likely to have resulted in Hamas receiving as much as $4 million previously.

“These types of money transfers are a classic money laundering technique, as they intend to disguise the nature, location, ownership and control of the funds being transferred,” the court filings said.

Despite growing enthusiasm for crypto, there is still plenty of scepticism. Unlike fiat currencies, crypto mostly lacks an overall regulatory apparatus and is largely decentralised, making it appealing to groups with nefarious intentions.

In May, a man in the US was sentenced to more than 30 years in prison after he was found guilty of converting $185,000 to cryptocurrency and transferring it to ISIS.

In March, an investigation originating from the FBI's field office in New Mexico led to the seizure of $201,400 in cryptocurrency assets that was intended to finance Hamas.

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Classification of skills

A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation. 

A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.

The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000. 

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Ovo's tips to find extra heat
  • Open your curtains when it’s sunny 
  • Keep your oven open after cooking  
  • Have a cuddle with pets and loved ones to help stay cosy 
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2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

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180 Petrofac employees laid off in the UAE

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More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
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Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

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Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.

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Updated: July 23, 2025, 4:07 AM