• Tue. Oct 3rd, 2023

Cryptocurrency Used for Terrorist Activities

Oct 1, 2020
Cryptocurrency Used for Terrorist Activities

In recent years, the cryptocurrency and the blockchain industry have started emerging as the next big thing in the finance sector. Many economic analysts as well as economic giants seem to hold the same opinion. They believe the crypto-blockchain industry holds great importance in the development of the economy in any country and serves as an alternative finance solution in near future.

Even though the current year has been cruel on the global population as well as the economy, it has proven to be extremely crucial for the crypto-blockchain industry. Many countries have witnessed the potential this market holds as millions of unemployed individuals who lost their employment due to the mass and extended lockdowns came to know that they could keep earning money through the platform.

However, when a technology gains so much recognition and adaptability in the public sector, it is bound to be used by people who are negative and are always on the lookout for creating chaos whenever they can. 

One such example is the recent sting operation that the French Police conducted on September 29th, 2020, and caught a large group of coconspirators who as per the French Police were involved in financing a Syrian Jihadist Network. The French police have stated that these accomplices were using cryptocurrency-based coupons in hopes that they would be able to execute their plan without being noticed.

In their recent statement, the French Police stated that their teams have been closely monitoring the activities of terrorist groups in France. As a result, many terrorist groups have resorted to the cryptocurrency platform in order to finalize their deals and fund groups such as Al-Qaeda. This way, they can continue spreading terror throughout the globe.

The French Police added that this group was on the top of their list as they were supporting a Jihadist organization known as Hayat Tahrir Al-Sham, which is affiliated with Al-Qaeda. They also revealed that the members of this group were involved in purchasing cryptocurrency coupons from Tobacco shops located all around France ranging from $12 to $176 (each). Once the team was a hundred percent confident of their activities, they performed the sting operation and caught these members red-handed.  

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