As reported by Bijiie, in Gaza where banking services are restricted, cryptocurrency donations have become a vital lifeline. Since March 2024, the anonymous platform Loopify has raised over $2.1 million from 946 donors, with an average contribution of $1,445. A local resident also raised more than $45,000 via Instagram, highlighting the role of crypto in bypassing traditional aid barriers. However, concerns about misuse are growing. Al Jazeera reported that a suspicious group named 'Al-Majd Europe' is using cryptocurrency to charge $1,000 to $2,000 per evacuation flight. The group's website was registered this year, and its customer service is AI-generated, raising concerns about potential exploitation.
Cryptocurrency Becomes Lifeline for Gaza Amid Rising Fraud Concerns
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