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Exploring the nexus: Cryptocurrency, Zakat, and terror funding

From orfonline.org

According to a Wall Street Journal report, Palestinian Islamic Jihad (PIJ) and Hamas raised over US$130 million in cryptocurrency from August 2021 to June 2023. Digital currencies like Tron, Bitcoin, and Tether are revolutionising financial transactions and charitable giving, with Reuters noting that nearly two-thirds of Tron Wallets are linked to terrorist organisations. Islamic State Khorasan (IS-K) recently appealed for Zakat donations through Monero (XMR) cryptocurrency in its Voice of Khurasan publication, even providing a QR code for donations. In the Bengaluru Café terror attack, cryptocurrency was used to f ... (full story)

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  • Category: Fundamental Analysis