Neo-Nazis and supporters of terror groups like ISIS and al-Qaeda are being scammed by elaborate cryptocurrency fraudsters, according to an ex-CIA analyst.
Some extremist organisations raise funds through online crypto donations from supporters on the darknet.
The issue hit the headlines last month when a far-right group calling themselves Order of Dawn started a cryptocurrency crowdfunding campaign for their violent ‘Reconquest’ of Europe.
Nikita Malik, the author of a recent report by the UK-based Henry Jackson Society about online extremism called Terror In The Dark, said: “The authorities must move urgently to increase their knowledge of terrorists’ activities in cyberspace and their use of technologies such as bitcoin.
“By fundraising and making financial transactions online, terrorists and other criminals can avoid interference from financial regulators or other third parties who might otherwise take steps to prevent their operations.
“Regulation in this area has to move carefully if we are to balance liberties with guarding against threats to our security – but the time has come to deny extremists the space they need online to plan fresh atrocities.”
Read the full article in Coin Rivet