According to Blockworks, Elliptic has refuted a report from the Wall Street Journal earlier this month that Hamas used cryptocurrencies to fund attacks on Israel. Previously, Blockworks reported that according to expert interviews, the possibility of cryptocurrencies being used as a funding tool is low due to the nature of public blockchains. Elliptic wrote in its previous report that law enforcement was able to "successfully freeze crypto assets held by terrorist organizations." The Wall Street Journal report stated that Hamas was able to raise "millions" in cryptocurrencies. However, Elliptic said: "There is no evidence that cryptocurrency fundraising has raised funds close to this amount, and the data provided by Elliptic and other agencies is misinterpreted." "No terrorist organization's public cryptocurrency fundraising campaign has received a large amount of donations relative to other sources of funding."