2 November 2024
US Seizes Cryptocurrency Accounts Used By Terror Groups
The United States Department of Justice has seized cryptocurrencies connected to terrorists. As per the latest report, the DOJ has seized millions from the crypto accounts of militant groups.
On Thursday, US DOJ made the largest seizure of cryptocurrencies from the crypto accounts of the groups such as ISIS and al-Qaeda, according to the CBC report. However, the amount of the seizure is not revealed but the report states that the funds run into millions of dollars.
Assistant Attorney General John Demers believes the Justice Department has cut down the chance by seizing the cryptocurrency accounts of militant groups to buy destructive weapons. Bitcoin has become a constituent critical method of funding for militant groups.
Seizing the crypto accounts of militants means that the DOJ could reach the group’s deepest pocket. The law enforcement officials revealed that crypto accounts of the militants received donations and fundraising. The move of these groups depends on the funds raised by donations.
The top national security official, Demers stated that the recent development shows that law enforcement is a step ahead of terrorist groups. As of now, the Department of Justice has confiscated over 300 digital currency accounts belonging to the groups.
DOJ has also seized four websites and Facebook pages in connection with them. The officials said that the seized funds will be used to fund people affected by terrorist attacks.
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