US ‘foils’ militant cryptocurrency fundraising

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US ‘foils’ militant cryptocurrency fundraising


An IS militant waves a flag in Raqqa, Syria, in 2014

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Reuters

Image caption

Despite its territorial losses, IS used cryptocurrencies to raise funds

The US government says it has thwarted attempts by militant groups to raise funds using digital currency, or cryptocurrency.

The campaigns involved Hamas’ military wing, the al-Qassam brigades, al-Qaeda and the Islamic State group (IS).

US officials said on Thursday that $2m in cryptocurrency had been recovered.

Hundreds of cryptocurrency accounts, four websites and four Facebook accounts were also seized, the justice department announced in a statement.

“These actions represent the government’s largest-ever seizure of cryptocurrency in the terrorism context,” the department said.

How did the groups receive payments?

The al-Q

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