Home Business News $2m in Bitcoin seized over alleged links to terrorism financing

$2m in Bitcoin seized over alleged links to terrorism financing

by Peter Smyth Tech Journalist
14th Aug 20 1:42 pm

Millions of US dollars in cryptocurrency have been seized by the US Justice Department over links to terrorism groups.

US authorities seized $2m in Bitcoin links to online terrorist financing campaigns to ISIS, Al Qaeda and the al-Qassam Brigades, Hamas’ military wing.

The terrorist groups call for donations and even offer advice on how to make anonymous donations, and use various online tools to fund their activities.

Cryptocurrency accounts which were tied to terrorist groups, and being used for laundering money anonymously has seen US officials take action against more than 300 Bitcoin accounts.

US investigators have also seized Four Facebook pages and four websites which were being used by the terror groups to solicit funds.

William Barr, the US Attorney General said, “It should not surprise anyone that our enemies use modern technology, social media platforms and cryptocurrency to facilitate their evil and violent agendas.

“The Department of Justice will employ all available resources to protect the lives and safety of the American public from terrorist groups.”

Michael Sherwin, US Attorney for the District of Columbia said, Investigators worked with covert sources who were communicating with the groups and provided federal authorities with the information on the accounts.

John Demers Assistant Attorney General for National Security said, these seizures have deprived the terrorist groups of millions in funds they would’ve used to buy weapons and equipment, train terrorists and travel to other countries. 

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