• Sat. Mar 2nd, 2024

Hezbollah Ties Exposed: Inside Alkarch al-Hassan’s Semi-Banking Institution Attack

ByEditor

Feb 11, 2024
Uncovering Hezbollah’s Money Trail: Gold Bars and Suitcases Buried in the Ground

In December 2020, a group of hackers known as SpiderZ carried out a mysterious attack on al-Qard al-Hasan, a semi-banking financial institution in Lebanon. The attack resulted in the leak of details from almost 400,000 accounts associated with the institution. The hackers, who called themselves Anonymous, shared dramatic videos and documents that exposed the true activities of al-Qard al-Hasan and its connection to Hezbollah.

The uncovering revealed information about the value of loans, repayment ratios, personal information about borrowers, and the total budget of the institution and its branches in 2019-2020. In addition to this, SpiderZ sent private messages to customers urging them to withdraw their money and stop paying their loans. They also revealed the names of Hezbollah members who deposited their money into the association.

Alkarch al-Hassan denied any wrongdoing and claimed that the hack was an act of treason and an intelligence attack. However, it did little to disassociate itself from its ties to Hezbollah. According to reports by the Information Center for Intelligence and Terrorism, there is an intense social and economic activity among the Shiite society in order to transform it into a resistance society that supports Hezbollah’s campaign against Israel. The struggling economy of Lebanon has only heightened the power of both organizations and has reinforced their “resistance society” ideology. Alkarch al-Hassan entered into this vacuum to provide financial support for Shia citizens who were struggling due to poverty and discrimination in Lebanon’s faltering economy.

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