Tag: ISIS

No Evidence ISIS Is Storing $300 Million in Bitcoin, Says Chainalysis

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Blockchain intelligence firm Chainalysis has dismissed claims ISIS is holding a $300 million bitcoin (BTC) war chest. In a “fact-checking” report, published on May 20, 2020, the U.S. company accused the media of sensationalizing allegations about BTC and other cryptocurrencies being used to fund terror groups. Most terrorism financing campaigns have raised less than $10,000 via crypto, indicating limited adoption, said the report. A few days ago, the director of the Counter Extremism Project claimed that ISIS had up to $300 million stored in bitcoin. Funds of equal value have…

US Woman Funding ISIS With Bitcoin Gets 13-Year Jail Sentence

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A United States federal court has sentenced a U.S. citizen to 13 years in jail for laundering money for ISIS using Bitcoin and other cryptocurrencies. Per a Department of Justice announcement on March 13, Zoobia Shahnaz of Long Island received a 13-year sentence for working to fund the Islamic State of Iraq and al-Sham through cryptocurrency payments amounting to over $150,000. She also worked to move to Syria to become a member of ISIS. Fraudulent loans for financing To raise the funds, Shahnaz allegedly defrauded major banks including American Express,…

ISIS Turns to Blockchain-Based Messaging App Following Telegram Ban

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Terrorist organization ISIS has turned to blockchain technology to anonymously spread videos and propaganda to thousands of people worldwide. A Vice report on Dec. 13th noted that experts who track ISIS’s activities online have found that supporters of the terror group are currently experimenting with blockchain-based messaging app, BCM. On the subject, a BCM spokesperson told Cointelegraph: “Our goal is to provide the most secure channel of communication and to safeguard the freedom of digital communication of our users, as we firmly believe that it is the cornerstone of any…