ISIS Using Bitcoin for Funding

Daily Conspiracy Writers

The world is nothing like you thought it was..

Who’d have thought untraceable currency would be attractive to terrorist groups… other than anyone with common sense.

Well now according to The Jerusalem Post, it appears terrorist groups are using untraceable cryptocurrencies and hold “a prominent presence online.”

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These groups are encouraging Bitcoin donations for fund-raising efforts.

“There is currently no shelter to protect the food and ammunition from the rain,” the group, called al Sadaqah (“charity” in Arabic), lamented in a post on the messaging app Telegram. The group’s Twitter feed contains a video showing a dirt floor strewn with blankets, bags of pita bread and hand grenades along with a message – “Donate anonymously with Cryptocurrency” -followed by a bitcoin address. So far, according to the Wall Street Journal, the group has received about $1,000”.

These untraceable currencies have quickly become global terror networks’ preferred method to move and collect funding, according to Yaya J. Fanusie, the director of analysis at the Foundation for Defense of Democracies’ Center on Sanctions and Illicit Finance.

“It is fast, efficient, and does not pass through the same interest-loaded and traceable routes that any usual payment methods would go through,” said Hassan Abdo, an al Sadaqah spokesman to the WSJ. “This way we and our donors can keep our full anonymity.”

Although these currencies are much more difficult to track, security agencies are still able to find a trail of terror-funding activity through numbers instead of names.

But these terrorist groups aren’t afraid to use complicated approaches to hide funds that are always evolving.

“Another separate jihadist media outlet ran a bitcoin funding campaign using a website with a link which opened up to a page on the site that generated bitcoin addresses,” writes Express UK. “This new method worked for the terrorists and kept them from the visible ledger by pointing to an external bitcoin payment site; these links open to a page within the website that generates bitcoin addresses. Supporters could copy these addresses and donate to them directly, away from the page.”

“This shows some technical sophistication on the part of that site’s administrators because they apparently have eliminated their dependence on digital currency exchange services,” writes Fanusie.

Donations to ISIS are being received via Bitcoin all over the world.

In December, the Department of Justice (DOJ) announced that the 27-year-old U.S. citizen Zoobia Shahnaz was arrested and charged with sending ISIS funds through Bitcoin.

She was charged with “bank fraud, conspiracy to commit money laundering and three substantive counts of money laundering” and allegedly sent $85,000 to Jihadists.

Her “transactions were designed to avoid transaction reporting requirements, conceal the identity, source, and destination of the illicitly obtained monies, and, ultimately, benefit ISIS,” according to the DOJ.

This isn’t just about getting funds from supporters either. It’s about building recruits.

“What they’re more than likely attempting to do isn’t just to pick up a few peanuts in donations here,” said Michael Smith, a fellow at the New America think-tank who studies terrorists’ use of technology. “It’s to build a network of sympathizers.”

Investors in cryptocurrencies take a risk considering the lack of regulation in these enterprises. Big risks can bring big rewards. So should Bitcoin be tracked in a more controlled environment? Or do you allow a freewheeling currency and enjoy the benefits of new economic gains that are less under control?

  1. Post Author

    ISIS = Israeli Secret Intelligence Service

  2. Post Author

    ISIS has been designated by Al-Hazr University, Cairo, Egypt, (the foremost scholars of Islam in the world) as “the most Islamic of Muslim peoples because of their strict adherence to, and interpretation of, the Quran.” There are 4 places in the Quran that state to kill infidels: 2:191, 4:89, 8:12,
    9:5 (infidels are people who do not subscribe to the doctrines of Islam). What supernatural power would tell a specific group of humans to kill all other humans who do not believe as the specific group does? Satan the devil, that is who! In my opinion, Allah = Satan the devil. And Allah is known as the best of deceivers.

  3. Post Author

    ISIS?? Could be. There is an incredible amount of deception in the world these days. But be careful with anti Jewish comment / action, because God promises a penalty to those who engage in it. Even if the main players in the development of the New World Order ( evil ) are probably of Jewish origin, Gods word states that the Jews are His chosen people. So care and UNDERSTANDING are required before action.

    • Post Author

      Look up Scofield Bible to learn about where the “promised land” myth came from.

  4. Post Author

    I have a BA in math. Bitcoin is bullshit. Go get or if you have a degree in math show me that I am wrong. PS In God We Trust should be In Our Government We Trust. Where is God’s bank vault?.In the cloud?

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