Treasury sanctions France-based Hamas crypto fundraisers
OFAC sanctioned two France-based charities and three people on October 2, 2026 after cryptocurrency moved through a Hamas network of more than $2 million.
The cryptocurrency line in these Hamas sanctions is the smaller figure. On October 2, 2026, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) said a financing architecture had moved more than $2 million to Hamas through deceptive charitable fronts and cryptocurrency channels. France-based fundraisers sent hundreds of thousands of dollars in cryptocurrency to a Gaza-based operative and, with him, collected more than $2 million for Hamas. Nothing in the release adds those figures together.
The October 2 list names no exchange, no token and no wallet address. That differs from OFAC's sanctions on Shelbit and Aban Tether over IRGC crypto flows. Here the blocked nodes are two France-based charities and three people.
Who went on the list
OFAC designated Saleem Abdallah Saleem al-Zaq, born May 12, 1981, a Palestinian national and a Gaza-based battalion deputy in Hamas's military wing. His network has used money services businesses and cryptocurrency wallets to move funds to the Hamas Al-Qassam Brigades. He was designated under Executive Order 13224, as amended by Executive Order 13886, for acting for or on behalf of Hamas. The State Department designated Hamas under that order on October 31, 2001.
Faouzi Barika, born February 13, 1991 in Tebessa, Algeria, a French national, and Amel Oualid, also known as Amel Bouchekif, born July 3, 1987 in Oran, Algeria, an Algerian national, operate from France. Their purported charities solicit funds for Gazan civilians and partner with al-Zaq, who moves the money on to Hamas. From 2020 to 2026 the three collected more than $2 million for Hamas, of which $1.5 million came after the October 7, 2023 attack on Israel. Barika and Oualid sent hundreds of thousands of dollars in cryptocurrency to al-Zaq.
Barika jointly established Association Baraka with al-Zaq. Oualid established Ensemble C Mieux, also listed as "Together It's Better". The SDN update gives Association Baraka French charity number W331005557, established October 13, 2023, and the website associationbaraka.fr. Ensemble C Mieux, charity number W423015492, was established July 1, 2024. Al-Zaq is listed for acting on behalf of Hamas, Barika for material support to Hamas, and Oualid for material support to al-Zaq rather than a direct Hamas link. The charities are listed as owned, controlled or directed by Barika and Oualid respectively. All five entries carry the Specially Designated Global Terrorist (SDGT) tag and secondary-sanctions risk under section 1(b) of the amended order.
What firms must block
"Terrorist organizations like Hamas rely on sophisticated financial facilitators and fraudulent schemes designed to exploit the public to sustain their operations," said Secretary of the Treasury Scott Bessent. "Treasury will continue to identify, isolate, and impose consequences on those who provide Hamas with the financial lifelines it needs to survive." The action aligns with a Federal Bureau of Investigation operation against Hamas fundraising, including ventures inside the United States, with the New York Police Department as a partner. The October 2 SDN update adds no US-located person.
No exchange, custodian or protocol is described as having frozen funds. Property of the designated persons in the United States, or in the possession or control of US persons, is blocked and must be reported to OFAC. An entity owned 50 percent or more, directly or indirectly and in the aggregate, by one or more blocked persons is blocked too. Transactions by US persons, or inside or transiting the United States, need OFAC authorization or an exemption. Strict-liability civil penalties, and criminal penalties, can reach US and foreign persons, including a non-US person who causes a US violation, under OFAC's Economic Sanctions Enforcement Guidelines. A foreign financial institution that knowingly facilitates a significant transaction for a designated person risks its US correspondent account or payable-through account.
Exchanges, custodians and money services businesses do not get a wallet address in these Hamas sanctions. The release records that cryptocurrency was sent, but it names no wallet, no chain and no firm. Screening has to catch Association Baraka, Ensemble C Mieux, the aka "Together It's Better", Bouchekif and the three personal names. That is a blunter gap than HTX rotating wallets to dodge UK sanctions screening, and it is not a case about sanctioning crypto code.
OFAC pointed to Frequently Asked Question 897 for removal petitions, and said the aim is a change in behaviour rather than punishment alone. The Financial Crimes Enforcement Network whistleblower incentive program may pay an award if a tip leads to a successful action with penalties exceeding $1,000,000. Screening files need the five SDGT entries, aka included.
This article is informational analysis only and is not financial, investment, or trading advice. Cryptocurrencies are highly volatile and can lose substantial value rapidly. Past performance and historical patterns do not guarantee future results. Do your own research and consult a regulated financial adviser before making any investment decision.
Reporting by Karthik Subramanian. Filed 6 October 2026, 17:22 GMT.
Digital Assets Correspondent
Karthik Subramanian is a founder, writer, and technology consultant with nine years in the crypto ecosystem.
