- 19 September 2018
- Posted by: admincryptovalues_wp
- Category: World News
Bitcoin Hasn’t Funded any Terror Attacks in Europe, Europol Report Reveals
Bitcoin and similar digital assets were not used to fund any of the recent terror attacks in Europe, finds a Europol report that paints a clear picture of the contribution of cryptocurrencies to online crime.
The 72-page long study [PDF], titled Intenet Organized Threat Assessment 2018, thoroughly touches upon the various modules of online crime, ranging from ransomware attacks to child pornography. The report mentions Bitcoin on 18 pages to discuss its alleged and confirmed use in several illegal operations online, including terrorism.
Conventional Banking Funds Terrorist Operations, not Bitcoin
In the past, a handful of sympathizing terrorist groups called for Bitcoin donations, including Akhbar al- Muslimin, Dawaalhaq Islamic News Agency, Isdarat. They, however, solicited crypto funds only to finance their online infrastructure and to purchase hosting servers. Nevertheless, one crypto-funded, English-language social media campaign known as Sadaqah reportedly targeted Muslims in the west to recruit them as fighters for the ongoing war in Syria.
“Yet despite the clear potential, none of the attacks carried out on European soil appear to have been funded via cryptocurrencies. The use of cryptocurrencies by terrorist groups has only involved low-level transactions – their main funding still stems from conventional banking and money remittance services,” the report read.