Are Terrorist Groups Using NFT to Raise Funds?

NFT as a Symbol of Terrorist Organizations?

The ‘IS-NEWS #01’ NFT, which is being viewed as the first instance of an NFT generated and circulated by a ‘terrorist sympathizer’, has alarmed national security specialists. Concerns have been raised that the immutable properties of blockchain technology might aid the dissemination of terrorist messaging and propaganda after the first instance of a nonfungible token (NFT) generated and disseminated by a ‘terrorist symphatizer’ was revealed. 

The NFT may be an indication that the Islamic State and other terrorist organizations aare also exploiting blockchain technology to escape sanctions and earn money for their terrorist activitites, according to a Sept. 4 story in the Wall Street Journal (WSJ) by intelligence analysts.

Raphael Gluck, co-founder of the American research company Jihadoscope, purportedly locate the aforementioned NFT by using pro-ISIS social media profiles. The digital token, known as ‘IS-NEWS #01’, is reportedly a picture with the Islamic State’s logo and text applauding Afghan-based Islamic fighters for hitting a Taliban position.

Termination of the Account

Former federal intelligence specialist Mario Cosby, who now focuses on blockchain-based currencies, claimed that the user made two further NFTs on August 26. One of the showed an Islamic State soldier instructing trainees on how to construct bombs, while the other was criticial of smoking. 

According to the researchers, this may be an indication that terrorist organizations are experimenting with new funding methods and disseminating their message via cutting-edge technology. It’s a big experiment to figure out how to make content unbreakable, according to Gluck. According to reports, the digital token was posted on NFT exchange OpenSea, but the business swiftly removed the listing and terminate the account of the poster claiming a zero-tolerance policy on promiting hate and violence.

Prior to being pulled down, the trio of NFTs was apparently also accessible on Rarible and other NFT marketplaces.