The Justice Department of the United States has seized cryptocurrency accounts of three top terrorist organizations, including al-Qassam Brigades, al-Qaeda, and ISIL.
Operation of US Justice Department
Bloomberg reported on Thursday that in its latest operation, the US Justice Department seized 300 cryptocurrency accounts of the top three terrorist organizations and confiscated millions of dollars.
According to the report, terrorist organizations asked for funds in cryptocurrency to carry out terrorist activities by running digital campaigns over social media sites. The DoJ has also blocked these social media campaigns after identification. The US Justice Department said:
“These actions represent the government’s largest-ever seizure of cryptocurrency in the terrorism context.”
Along with 300 cryptocurrencya accounts, the US authorities have also seized four websites and four Facebook accounts, which are linked with these organizations on the orders of the court.
The court filing also reveals that the organizations have laundered money through different platforms, including Telegram. And they have used these funds to buy weapons for illegal activities.
Cryptocurrency Accounts Hold $2 Million
John Demers, the head of national security division at the US Justice Department, claims that the US Authorities have seized about $2 million in cryptocurrency.
“They become less cautious because they think there is a cyber-enabled veneer that protects them,” says a law enforcement official. “They’re not really trying to hide what they’re doing; they are in fact very open.”
Federal agents from three US departments- the Internal Revenue Service, the Department of Homeland Security and the FBI- have also seized 150 accounts linked to al-Qassam Brigades, the military wing of Hamas.
After this, it has become evident that terrorist groups have also upgraded them by adopting cyber age technology. The DoJ stated:
“The action demonstrates how different terrorist groups have similarly adapted their terror finance activities to the cyber age.”
“Terrorist networks have adapted to technology, conducting complex financial transactions in the digital world, including through cryptocurrencies,” Treasury Secretary Steven Mnuchin said.