Digital assets have been used for a long time on dark markets. But now, Bitcoin (BTC) and other assets may take another blow to their reputation, as they are involved in terrorism financing. Now, a pilot study links ISIS activity and financing to the usage of BTC and other crypto assets, based on the research of the MEMRI Jihad and Terrorism Threat Monitor.
The study, titled “The Coming Storm: Terrorists Using Cryptocurrency”, focuses on the shift of terrorists to bitcoin, but potentially to other digital assets.
Until now, the reportedly cash-rich ISIS was using shadow banking and possibly hawala schemes to move funds. But MEMRI has unearthed evidence that jihadists are becoming savvier and using cryptocurrency to transfer funds.
"Cryptocurrency has come to terrorism, with an array of terrorist organizations exploiting the ...
