#crypto analytics firm #Chainalysis has stated that reports about terrorist groups using #cryptocurrencies may be overstating their involvement, as it is a small portion of the overall illicit cryptocurrency transaction volume. However, Chainalysis acknowledges that some terrorist groups use cryptocurrency for financing and emphasizes the importance of cutting off their access to service providers. In response to recent reports on Hamas' alleged use of crypto, Chainalysis cautions against including all flows to service providers associated with terrorism financing, as these totals may include funds unrelated to terrorism. The firm estimates that only about $450,000 of the $82 million mentioned in the reports is actually tied to terrorism. Nonetheless, Chainalysis acknowledges the role of service providers in facilitating terrorism and emphasizes the importance of cutting off their access.