todaysgazette.com
- Coinpayment Linked to Bitcoin donations used by ISIS to finance Sri Lankan Attack
- Whitestream security intelligence firm revealed terrorists are using cryptocurrency to finance their heinous acts.
Terrorists around the globe are leveraging the anonymity and decentralised nature of Bitcoin to perpetrate evils.
Whitestream, an Israel-based intelligence firm has allegedly likened CoinPayments to the recent killing in Sri Lanka, claiming ISIS used the Canada-based crypto-payment platform to achieve Bitcoin to fiat conversion.
According to “Globe”, Whitestream’s intelligent report via its series of investigations reveals that a day to the Sri Lankan bombing that killed more than 250 people including visitors from the neighbouring countries, a large amount of funds were moved to the wallets used by ISIS to raise financial support.
As investigated by Whitestream, the funds held by CoinPayments rose exponentially, moving the balance in the CoinPayments’ primary wallet to move from $500,000 to $4.5 million.
However, a day after the gruesome attack, the fund moved back to $500,000, an amount said to be CoinPayments’ daily monthly balance for the past nine months.
ISIS has been using Bitcoin to raise a donation for the past two years. According to Whitestream which has been monitoring contributions to ISIS for the past six months and how funds were moved a day to the recent attack, said CoinPayments agreed that its wallet was involved in the donation, but denied it has any link with ISIS.
Whitestream assumes that terrorists have more wallets on CoinPayments’ website. A day before the Sri Lankan terrorist mayhem, the huge transaction was noticed on a portfolio worth around $9,800.
#Hamas Bitcoin funding campaign is still on the move.
Most of the funds received from @binance, and withdrawals went through @bitfinex pic.twitter.com/NKF4wu47KL— whitestream – Blockchain Intelligence (@whitestream5) February 16, 2019
In the past, Whitestream revealed how Hamas used the U.S.-based crypto exchange Coinbase to achieve crypto to fiat conversion.
Crypto donation to ISIS is becoming widespread. In 2017, a New York based woman was indicted for trying to offer monetary assistant to the same ISIS terrorist organsiation using cryptocurrency.