Crypto Aid Israel, an emergency aid fund set up to support Israeli victims of Hamas terrorism, has received more than $185,000 in donations despite a phishing attack.
In an October 19 statement shared with CryptoSlaat, Crypto Aid Israel said so had completed two rounds of aid distribution of NIS 200,000, approximately US$49,000, to various organizations leading relief efforts in the region.
Some of the beneficiaries of the donations include the Foundation for Advancing Citizens of Eshkol Regional Council, Zaka, Latet and Lev Echad. They spend the money on search and rescue efforts, securing medical equipment and providing essential services such as food and transportation to citizens in need.
Eyal Gura, New Digital Initiatives Advisor to the Latet Board, said:
“The crypto channel is an important, fast and innovative channel and will allow new contributors to join our global ecosystem and support Israel at such an important hour.”
However, the initiative has faced challenges, including a “serious phishing attack” and “a short disruption” that lasted 30 minutes on the website. It was unclear whether any money was lost as a result of these incidents.
Meanwhile, the initiative revealed that it has received support from more than 30 companies, including accounting giant KPMG, crypto wallet provider Zengo and Fuse, helping to raise awareness and financial contributions for his cause.
Crypto Aid Israel is a collective led by influential leaders within the Israeli cryptocurrency community. The collective includes organizations such as 42Studio, MarketAcross, Collider Ventures, CryptoJungle, Nilos, BlockchainB7, Efficient Frontier, Ironblocks, Israel Blockchain Association, Bits Of Gold and KPMG.
The aid was launched after a terrorist attack by Hamas on Israelis, causing the loss of property and lives. Critics of the crypto industry marked its role in financing such incidents, sparking a broader discussion about the regulation and transparency of digital assets.
As a result, regulators worldwide are restricting Hamas’ financial resources. For context, the US government recently sanctioned a Gaza-based crypto broker, Buy Cash, and its operator, Ahmed MM Alaqad, for facilitating crypto transactions for Hamas.