Europol: No Confirmed Evidence Linking Islamic State to Bitcoin
A report drafted by EU law enforcement agency Europol has found that there is no evidence to back up reports linking the Islamic State (IS) to the use of bitcoin or other alternative digital currencies. Released on 18th January, the report is the product of a review held by EU member states and Europol in the wake of the 13th November Paris attacks. Included was the finding that there have been no recent changes in how IS has been seeking to finance its operations. The report reads: "There is no evidence however of IS-financing networks in existence. Despite third party reporting....
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A Europol report that establishes a review of EU member states and the Europol in the aftermath of the terrorist attacks that struck Paris in November 2015 has found no confirmed evidence that suggest Bitcoin is used for terrorism financing. A report by Europol – the European Union’s law enforcement agency, has aggregated and established a rounded review of the changes in Islamic State’s operations, studied by EU member states and Europol itself soon after the Paris attacks late last year. The report also stated that the financing of terrorist operations did not undergo any marked changes....
News that Bitcoin can be tied to the Islamic State circulated on the internet in the wake of the Paris attacks. European Union leaders even held a so-called "emergency meeting" on virtual currencies themselves, reportedly investigating how to better control the currency. To be sure, evidence that the Islamic State uses Bitcoin in any significant manner is non-existent, the claims specious at best. Researcher Nicholas Weaver, from the Berkeley-based International Computer Science Institute, is aware of no evidence that the Islamic State uses Bitcoin. "There was a recent material support....
Editor's update: After being pointed to by CCN's readers, the original featured image containing al-Qaeda's flag is now replaced with one containing the Islamic State flag. Following the recent attacks on Paris, GhostSec, an Anonymous off-shoot which actively hacks ISIS efforts worldwide, said that ISIS regularly uses cryptocurrencies to fund its operations. It offered evidence from September, in which the group believed it had uncovered a single address worth $3 million in bitcoins (which would have appreciated significantly here recently.) The group had a lot more to say during an....
New research from Singapore-based web intelligence firm S2T suggests Islamic State (ISIS) could be using bitcoin for fundraising. Israeli daily newspaper Haaretz has reported that S2T analyst Ido Wulkan managed to find concrete evidence linking an ISIS cell based in the US to fundraising activities. The cell apparently used the dark web and bitcoin to cover its tracks. Wulkan found a dark web site that urged supporters to donate bitcoin to the cause. The message, posted by a user named Abu Mustafa, stated that bitcoin donations are accepted by the cell.
In an effort to tackle money laundering through virtual currencies like bitcoin, two prominent law enforcement agencies – Europol and Interpol have announced the establishment of a working group. An announcement from late last week has confirmed the establishment of a new working group looking into money laundering with digital currencies. The group is established through a tripartite partnership between Europol – the criminal intelligence agency of the European Union; INTERPOL, a prominent intergovernmental organization that facilitates international police cooperation and; the Basel....