US Department of Justice confiscated millions of dollars in a cryptocurrency from terrorist groups

US Department of Justice released that it had confiscated millions of dollars in cryptocurrencies from three terrorist organizations. These assets came from the vast majority of donations requested by terrorist groups on social media. Subsequently, they use these funds to carry out terrorist attacks.

US Department of Justice confiscated millions of dollars from three terrorist groups

According to the US Department of Justice, the Trump administration has successfully intervened against digital campaigns by Al-Qaeda and other terrorist groups that used social media to obtain cryptocurrencies to carry out their terrorist attacks.

More than 300 cryptocurrency accounts owned and used by Al Qaeda, Al-Qassam and ISIS terrorist groups were seized. The U.S. Department of Justice said in a report:

“THESE EVENTS ARE THE GREATEST GOVERNMENT OF CRYPTOMENE IN THE CONTEXT OF TERRORISM.”

Laudering of cryptocurrencies

U.S. officials have received injunctions to seize more than 300 cryptocurrency accounts, four Facebook accounts and four websites related to the activities of these terrorist organizations.

The US Secretary of the Treasury, Steven Mnuchin, said:

“TERRORISTS HAVE ADAPTED TO TECHNOLOGIES AND CONDUCT COMPLEX FINANCIAL TRANSACTIONS IN THE DIGITAL WORLD, EVEN THROUGH CRYPTOCURRENCIES.”

Cryptocurrencies such as Bitcoin (BTC) are preferred for illegal transactions because they are perceived as difficult to trace. And it was one of the terrorist groups who told potential contributors that this money footprint was difficult for law enforcement.

The group laudered Bitcoin and other cryptocurrencies using the Telegram and other social platforms, where they asked for donations for their cause. As stated in the report, the funds are then used to buy weapons or train new fighters.

Investigation

One US investigation way focused on the Hamas military arm, known as the Al-Qassam Brigade. It was this group that launched a public campaign via social media last year. The goal was to get donations in bitcoins. At the same time, potential donors were assured that these contributions are untraceable and will be used for terrorist attacks.

On its website, the group also outlined how to provide donations anonymously. More than 150 cryptocurrency accounts of the Al-Qassam Brigade, which laundered funds, were eventually seized during the operation.

Another investigative way focused on an ISIS collaborator in whom Murat Cakar was identified. The man registered a fraudulent website in Turkey that sold face masks and other protective equipment against Covid-19. The masks were made by a Turkish company and were not approved by the US Food and Drug Administration, although they were advertised as such. In this context, the Ministry of Justice stated that it had confiscated this and four other websites used for the ISIS program and funding.

Al Qaeda, in turn, sought to raise funds through Bitcoin for its terrorist attacks, even though the group acted as a charity on social media.

US Department of Justice added in its report that the confiscated funds will be allocated to victims of terror through the US Fund for Victims of Terrorism after the investigation.

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