International

ISIS-linked blog suggests bitcoin for terrorist funding

The Islamic State of Iraq and Syria (ISIS) has proposed using bitcoin to fund global jihadist efforts.

The Islamic State of Iraq and Syria (ISIS) has proposed using bitcoin to fund global jihadist efforts.

A new blog associated with the Islamic State of Iraq and Syria (ISIS) has said that bitcoin could help support their movement by sending “millions of dollars” to fighters.

In a post called “Bitcoin and the Charity of Violence Physical Struggle”, the author a man calling himself Amreeki and Amreeki (“American”) Witness on Twitter, argues donations would be “untrackable” by Western governments.

However, he goes on to explain the problems militants face in funding their operations: “One cannot send a bank transfer to a mujahid or suspected mujahid without the kafir government ruling today immediately being aware.”

The answer is bitcoin, Amreeki says. He goes on to exhibit a deep understanding of how bitcoin works.

“It is a digital only currency created through a process called mining. A mining machine is a powerful computer that processes recent transactions sent through the Bitcoin network, and validates them. If it finds that the transaction is legitimate, the money, Bitcoins, are sent and some Bitcoins are given to the miner. This system allows for no counterfeit Bitcoins to ever exist, as each one can only exist alongside validation.”

The article highlights DarkWallet, a bitcoin wallet currently in alpha development that uses encryption to make it harder to trace Bitcoin transactions.

According to the post: “This system has the potential to revive the lost sunnah of donating to the mujahideen, it is simple, easy, and we ask Allah to hasten it’s usage for us.”

The US Department of Defense is currently directing a counter-terrorism investigation of virtual currencies like bitcoin.

A memo written by the department’s Combating Terrorism Technical Support Office and first published in May by bitcoin Magazine stated: “The introduction of virtual currency will likely shape threat finance by increasing the opaqueness, transactional velocity, and overall efficiencies of terrorist attacks.”

The WordPress blog which published the bitcoin article was originally planned as a magazine, but was superseded by an official magazine called Islamic State News.

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One thought on “ISIS-linked blog suggests bitcoin for terrorist funding

  1. Pingback: Skype with Kate Iorio | They said i'm not allowed to hang out there

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