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According to a recent report by blockchain analytics firm TRM Labs, terrorist groups globally, including those affiliated with ISIS, often use cryptocurrencies for fundraising purposes. In some cases, these terrorist organizations have been able to attract supporters and expand their activities.
TRM Labs, observing “growing on-chain evidence” over the past 12 months, revealed that ISIS sympathizer networks in countries such as Tajikistan, Indonesia, Pakistan and Afghanistan have used crypto assets to facilitate their activities. Almost all transactions involving the cases below were conducted on the Tron network (TRX) using the Tether (USDT) stablecoin.
ISIS Supporter Terrorist Organizations Are Taking Advantage of Crypto
Many recruited fighters were lured to join the ISIS affiliate in Afghanistan (ISKP) with the help of crypto. One such fundraising campaign has been active for over a year and controls addresses that will receive around $2 million in USDT on Tron in 2022.
TRM Labs Claimed to bust the campaign, which led Turkish authorities to arrest Shamil Hukumatov, a senior ISIS fundraiser last month, who was allegedly behind it.
More than $517k was sent in 2022 by individuals using Indonesia-based crypto platforms to addresses that were said to be linked to pro-ISIS fundraising campaigns in Syria and local exchanges facilitating their activities. In this case as well, TRM Labs found that all of these transfers were done using USDT on Tron.
During late 2022, a media arm affiliated with the ISPP, the Pakistani affiliate of the notorious terrorist organization, began promoting its ability to accept donations. The unit was established in 2019 and has been responsible for several attacks in Pakistan, mainly directed at local security forces.
The ISPP attempted to exploit earthquakes in Turkey and Syria to raise funds by posting various cryptocurrency addresses that were previously flagged by TRM Labs as being linked to the terrorist entity.
According to TRM Labs, the media arm of an ISIS affiliate in Afghanistan is also using cryptocurrencies to finance its operations and/or receive funds from supporters.
Syria link
TRM Labs’ findings of the above on-chain information ultimately link to pro-ISIS fundraising campaigns in Syria. The intelligence platform believes that the war-torn country remains a major center for the use of cryptocurrencies by ISIS and its supporters.
The investigation also revealed that a large portion of the donations go to ISIS families in camps such as Al-Hol and Rose, and to local cryptocurrency exchanges that facilitate their activities.
“Tracing these campaigns, tracing donations on the blockchain, and identifying donors is critical to dismantling and potentially disrupting ISIS sympathizer networks around the world.”
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According to a recent report by blockchain analytics firm TRM Labs, terrorist groups globally, including those affiliated with ISIS, often use cryptocurrencies for fundraising purposes. In some cases, these terrorist organizations have been able to attract supporters and expand their activities.
TRM Labs, observing “growing on-chain evidence” over the past 12 months, revealed that ISIS sympathizer networks in countries such as Tajikistan, Indonesia, Pakistan and Afghanistan have used crypto assets to facilitate their activities. Almost all transactions involving the cases below were conducted on the Tron network (TRX) using the Tether (USDT) stablecoin.
ISIS Supporter Terrorist Organizations Are Taking Advantage of Crypto
Many recruited fighters were lured to join the ISIS affiliate in Afghanistan (ISKP) with the help of crypto. One such fundraising campaign has been active for over a year and controls addresses that will receive around $2 million in USDT on Tron in 2022.
TRM Labs Claimed to bust the campaign, which led Turkish authorities to arrest Shamil Hukumatov, a senior ISIS fundraiser last month, who was allegedly behind it.
More than $517k was sent in 2022 by individuals using Indonesia-based crypto platforms to addresses that were said to be linked to pro-ISIS fundraising campaigns in Syria and local exchanges facilitating their activities. In this case as well, TRM Labs found that all of these transfers were done using USDT on Tron.
During late 2022, a media arm affiliated with the ISPP, the Pakistani affiliate of the notorious terrorist organization, began promoting its ability to accept donations. The unit was established in 2019 and has been responsible for several attacks in Pakistan, mainly directed at local security forces.
The ISPP attempted to exploit earthquakes in Turkey and Syria to raise funds by posting various cryptocurrency addresses that were previously flagged by TRM Labs as being linked to the terrorist entity.
According to TRM Labs, the media arm of an ISIS affiliate in Afghanistan is also using cryptocurrencies to finance its operations and/or receive funds from supporters.
Syria link
TRM Labs’ findings of the above on-chain information ultimately link to pro-ISIS fundraising campaigns in Syria. The intelligence platform believes that the war-torn country remains a major center for the use of cryptocurrencies by ISIS and its supporters.
The investigation also revealed that a large portion of the donations go to ISIS families in camps such as Al-Hol and Rose, and to local cryptocurrency exchanges that facilitate their activities.
“Tracing these campaigns, tracing donations on the blockchain, and identifying donors is critical to dismantling and potentially disrupting ISIS sympathizer networks around the world.”
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off fees on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
