It was alleged that ISIS leaders controlled a war fund of $ 300 million. It is stated that the terrorist group turned giant sums into crypto money.
According to the news in the British newspaper The Sun; ISIS financed the attack that killed more than 250 people with live bombs in Sri Lanka in April with crypto funds.
Security experts, on the other hand, state that the economic power of ISIS can be much more than known due to the donations made with virtual money.
It was written that the terrorist group, which was hit by operations in the northern part of Syria last year, started to use its sleeping cells in Syria and Iraq and turned some spaces due to coronavirus into advantage.
The think tank, The Counter Extremism Project, thoroughly evaluated its latest research and its report, “Financing Terrorism with Cryptocurrencies,” at an online seminar on Monday.
$ 300 million not available since 2017
Project leader Hans-Jakob Schindler, who has also worked in the United Nations security council in the follow-up department of Al Qaeda and ISIS, stated that the terrorist group has had an accumulation of war since 2017.
“There’s about $ 300 million in amounts that haven’t been found since 2017,” says Schindler. So I think the money may have been turned into crypto. This is a way they use. An ideal storage mechanism is for them. They can use it whenever they need it. It is difficult to follow and find for the states ”.
ISIS became the first terrorist group to be investigated due to its crypto money connection. As you may remember, in 2015, a US citizen named Ali Shukri Amin was sentenced to 11 years in prison for showing how to donate Bitcoin and hide it online via ISL.
ISIS may be using cryptocurrencies since 2014
Schindler said there is serious evidence that ISIS and Hamas have been using cryptocurrencies since 2014. Schindler also said, “From the very beginning, ISIS has been thinking ‘what can we do with this new technology …’. They divide digital transactions into small sums. This makes tracking much more difficult. Cryptocurrencies can use the public better for terrorists. Because it makes it easier for those who want to support them. ”
Schindler also warned the European governments and stated that much stricter regulations should be put into effect as soon as possible.