Terrorism and Crypto: Evidence from Ex-CIA Analyst
Terrorist organizations have been testing cryptocurrency as a source of funding, since it allows instant cross-border, censorship-resistant payments. Still, is Bitcoin really a sustainable source of funding for terrorists? To find out, we reached out to former CIA analyst Yaya Fanusie and Itsik Levy, CEO at Whitestream, a blockchain intelligence agency.\n\nGet your Cointelegraph merch here: http://bit.ly/2X67nM7\nUse this code for your 30% discount in our store: HODLERSDIGEST30\n\n#Cointelegraph #Bitcoin #Crypto\n\nSubscribe to Cointelegraph: https://goo.gl/JhmfdU \n\nFollow COINTELEGRAPH:\nWebsite: https://cointelegraph.com/ \nTelegram: https://telegram.me/thecointelegraph \nFacebook: https://www.facebook.com/cointelegraph \nTwitter: https://twitter.com/cointelegraph \n\nCointelegraph covers everything Bitcoin, bringing you the latest news, prices, breakthroughs, and analysis, with emphasis on expert opinion and commentary from the digital currency community.
Terrorist groups funded by cryptocurrency via Telegram
ISIS, Al-Qaeda (terrorist organizations banned in Russia) and Hamas use social media platforms, including Telegram, to raise funds using cryptocurrencies, according to a study by the Middle East Media Research Institute (MEMRI).
The situation was reportedly aggravated by the launch of Telegram’s own blockchain, as well as plans to release its own cryptocurrency.. Gram tokens planned launch by October 2019.
Institute provided documentary evidence that Hamas’ military wing used Telegram, Facebook and Twitter to urge supporters to send funds using bitcoin.
On March 26, Syrian preacher of jihad Abdullah al-Muhaisini posted a video on his Telegram channel, in which he called on Muslims to support Hamas by donating funds using Bitcoin.
MEMRI said it briefed American and other Western government agencies of its findings. As a result, letters from the US Congress were sent to the CEO of Telegram Pavel Durov with a request to take immediate action in relation to the received data.
This is not the first time that terrorism and cryptocurrencies have featured in the same case. Earlier concerns about using cryptocurrencies to fund banned extremist organizations expressed UN Representative Neil Walsh.