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Terrorists turn to bitcoin to raise money

The Age  |  19 August 2019  |  News

New York: Hamas, the militant Palestinian group, has been designated a terrorist organisation by Western governments and some others and has been locked out of the traditional financial system. But this year, its military wing has developed an increasingly sophisticated campaign to raise money using bitcoin.

In the latest version of the website set up by the wing, known as the Qassam Brigades, every visitor is given a unique bitcoin address where he or she can send the digital currency, a method that makes the donations nearly impossible for law enforcement to track.

The site, which is available in seven languages and features the brigades' logo, with a green flag and a machine gun, contains a well-produced video that explains how to acquire and send bitcoin without tipping off authorities.

Terrorists have been slow to join other criminal elements that have been drawn to bitcoin and have used it for everything from drug purchases to money laundering.


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