US: $ 2 million seized from Al Qaeda and ISIS linked accounts

US: $ 2 million seized from Al Qaeda and ISIS linked accounts
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These organizations tried to attract potential donors through social media campaigns.

The United States has seized about $ 2 million and more than 300 cryptocurrency accounts used by Al Qaeda, Al-Qassam Brigades – the military wing of the Palestinian Hamas organization – and ISIS, which were used to obtain the cryptocurrencies and then fund terrorist acts, according to today’s announcement of the US Department of Justice. The justice ministry said it was “the largest seizure of cryptocurrencies by the government in the context of terrorism”.

These organizations have tried to attract potential donors through social media campaigns. These actions show that the US government can detect and infiltrate terrorist or criminal organizations, which they believe are covered by the anonymity offered by Bitcoin and other digital currencies.

“This case is truly historic and unprecedented for a number of reasons,” Columbia District Attorney Michael Servin told reporters. “We are looking at three different entities that the government has targeted to prevent funding for these very dangerous terrorist organizations.”

Islamic State-affiliated companies are seeking to exploit the coronavirus pandemic by offering worth millions of dollars fake personal protective equipment to hospitals or nursing homes, according to the Justice Department.

“The action demonstrates how different terrorist groups have orchestrated their cyber-financing activities in the age of cyberspace,” the justice ministry said. “These groups have used cryptocurrencies and social media to attract attention and raise money for their terrorist campaigns.”