As the war between Israel and the militant organization Hamas continues, a group of blockchain enthusiasts in the region has created a fundraising tool called Crypto Aid Israel to help raise funds and support those affected. The tool will support 12 crypto assets, including ETH, BTC, USDC, and USDT, among others.
On Saturday, Hamas fighters invaded Israel and attacked civilian communities in the Southern part of the country, killing more than 1,000 people and taking hostage at least 130, including women, children, and soldiers. According to Israel’s Ministry of Health, over 2,500 citizens are hospitalized, with 420 nursing serious injuries.
Data from Crypto Aid Israel shows that the team behind this fundraising tool intends to send the collected cryptocurrency donations to Israeli non-profit organizations to distribute them to families that escaped to Tel Aviv from southern Israel without carrying necessities like clothes and food.
The Crypto Aid Israel Team
The team that created Crypto Aid Israel comprises individuals from Israel-based blockchain companies like CryptoJungle, Collider Ventures, MarketAcross, and 42Studio. It says it has also reached out to several Israeli government bodies interested in disbursing the contributions collected via its tool.
One of the Crypto Aid Israel team members, Kim Bazak, says they chose to collect donations in cryptocurrency as it is fast and cheap.
Gaza Welcomes Crypto Donations
Crypto has proven to be a crucial fundraising tool also in Gaza since yesterday, when Israel’s defense forces launched airstrikes on the region. Moreover, the Israeli defense minister said they were planning to cut off the supply of food, electricity, fuel, and water to Gaza, a region that hosts over 550,000 people.
As of Monday evening, several Arab charities had emerged, sharing crypto addresses on various social media platforms requesting donations for people in Gaza. Thousands of dollars in multiple cryptocurrencies have been raised so far.
Gaza’s Health Ministry has reported that Israel’s airstrikes have left 3,500 wounded and killed over 650 Palestinians.
Meanwhile, several reports suggest that the Israeli government has reached out to on-chain analytics company Chainalysis to identify crypto addresses linked to Hamas and have them frozen by cryptocurrency exchanges in an effort to cut off funding to the terror group.
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