Terrorist tool?

❄️ ❄️ December 21, 2017 ❄️ ❄️

"They who can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety." 
― Benjamin Franklin

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THE FEATURE

Think Tank Links Rising Bitcoin Price to Terrorist Use


Groups affiliated with Islamic extremism are showing an increased willingness to raise funds with bitcoin, according to a U.S. national security advisor.

After more than a year without identifying a single instance of a group associated with terrorism publicly using bitcoin to solicit donations, the Foundation for the Defense of Democracies, which advises both public and private entities on matters relating to national security, has identified four cases in less than a month.

The jump in instances of terrorist organizations fundraising with bitcoin began early last month, just as the price of bitcoin first passed the $10,000 milestone, according to new findings.

But while the actual amount being raised by the outfits are still relatively tiny, the think tank's director of illicit finance analysis, sees the spike as part of a bigger-picture exploration of cryptocurrencies by terrorist organizations.

"My theory is the attention to bitcoin has probably led to certain groups taking a look at the technology," said director Yaya Fanusie.
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