The exception that proves the rule. After all these years of vain incantations from the detractors of the crypto who constantly accuse it of serving the interests of organized crime, the mafia and terrorists of all stripes. We’ve known ever since that all this is not necessarily true, or even partially untrue, as the blockchain being rather transparent for those who know how to read it, some organizations had abandoned its use.
But a recent report from TRM, an intelligence 3.0 specialist, tells us that certainIslamic State continue to useUSDT to raise funds in several countries. When crypto serves the vilest obscurantism, we’re also here to tell you about it. So let’s set off together on the trail of Daech’s crypto henchmen!
« They » were right: terrorists use cryptos
The Groupe d’Action Financière (FATF) is an intergovernmental body dedicated to combating money laundering and the financing of terrorism. Created by the G7 and indirectly linked to the OECD, it issues a range of recommendations and advice to member states, and has long cryptocurrency in its sights.
Under his impetus, anti-fraud agencies scrutinize financial transactions worldwide in search of irregularities and suspicious transfers. In recent months, the United Nations and the U.S. Treasury Department have observed an increase in the number of suspicious transactions. increasing use of the cryptocurrency by theIslamic State and some of its sympathizers in Asia.
This is the subject of report published by TRM, the on-chain data specialist that « helps governments and financial institutions fight fraud, money laundering and financial crime ». Based on its experience, TRM’s teams have uncovered the recurrent use of theUSDT by various Islamic State (EI) networks to raise funds and finance its activities. Furthermore, according to their research, the network Tron (TRX) would be the preferred support of their exchanges. This mainly concerns Tajikistan, l’Afghanistanthe Pakistan, l’Indonesia and the Syria.
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Central Asia at the heart of the Islamic State nebula
Let’s start with the three countries of Central Asia, and in particular the Tajikistana small, landlocked republic that rarely makes the headlines. Here, TRM uncovered a recruitment network working for the Afghan branch of the EI.
A crypto address having received 2 million USDT was identified as belonging to a local manager and was monitored. Finally, with the help of the local crypto platform and KYC information, the June 22, 2023the Turkish authorities arrested Shamil Hukumatova senior EI fundraiser.
Let’s go a little further south, to the Pakistanto see how a local EI cell attempted to raise funds to finance attacks against the country’s armed forces. Last year, TRM identified several addresses that had collected 40,000 dollars to supposedly help Turkey and Syria rebuild after the earthquake. On the face of it, this was all a front to hide fund-raising for the terrorist organization.
In AfghanistanTRM spotted a unit specialized in media content production. Named Al-Azaimthis branch of EI in the country regularly published its crypto addresses to receive donations in USDT. And even if the amounts are small (10,000 dollars), the structure is in place.
Syria: a hub for USDT fund-raising
But the largest sums have been unearthed in Indonesiawhere a local exchange hosts several addresses bringing together 517,000 dollars. These funds are used to support and assist EI families held in camps in Syria. Transfers of 10,000 dollars are continuously carried out, always on the Tron (TRX) and still in USDT.
La Syria is the nerve center of EI’s international fundraising. Indonesian nationals have even been sanctioned by the US OFAC for taking part. TRM has thus put its finger on an important blind spot of crypto which is shamelessly exploited by this terrorist organization to collect and transfer money.
But there’s no doubt that international bodies will continue to hunt these terrorists down relentlessly on every terrain in the world, and even on the blockchain, so as not to leave them the slightest space of tranquility or digital dollar.
Let’s end on a hopeful note by discovering, or rediscovering, the incredible story of this Afghan woman who has also used crypto in her country, but this time for a good cause: Roya Mahoob or when Bitcoin serves the common good.
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