UK seller pleads guilty to using Bitcoin to fund Islamic State (IS)

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Bitcoin and Altcoin transactions are generally anonymous and untraceable. As a result, it is usually easier to conduct shady transactions with crypto knowing that the perpetrator could succeed undetected.

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However, this is not the case for Hisham Chaudhary, from Leicestershire, UK. He funded ISIS supporters with bitcoin and now faces jail time as a grand jury found him guilty of supporting terrorists.

Terrorist organization and online propaganda

According to BBC News Show, the perpetrator of this act Hisham Chaudhary used bitcoin to transfer funds to the terrorist group.

He also engaged in online propaganda to support ISIS agitators. As a result of his illegal acts, a jury set up for his case at Birmingham Crown Court found him guilty.

During the investigation, authorities discovered that the 28-year-old had raised a lot of money and converted British pounds into Bitcoin to free numerous IS supporters in Syrian detention camps.

The Bitcoin price has taken a blow as the price trading below the 32k mark | Source: BTCUSD on TradingView.com

While responding to the allegations, Chaudhary says the allegations are not true. According to him, everything he did had a humanitarian agenda and nothing else.

But when the prosecution posted one of its Jihad videos on the Internet, which usually represents war intentions, it denied its humanitarian allegations.

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Additionally, Chaudhary’s arrest took place in 2019. During the arrest, police found IS propaganda tapes. This information came from Chief Detective Superintendent Martin Snowden, head of the North East Counterterrorism Police.

With all this information against him, the court found him guilty of seven different counts, including 4 counts of sharing terrorist publications, one count of belonging to ISIS and two counts of supporting terrorism with funds. . Sentencing will take place on September 3, 2021.

Does ISIS have bitcoin worth $ 300 million?

Many people have made statements regarding ISIS and its alleged $ 300 million Bitcoin store. The statement sparked a lot of speculation in 2019, but it looks like analysts don’t believe it.

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According to Chainalysis, such a theory is probably not true. Their report pointed out that crypto is transparent and terrorists will not choose such an option to store their illegal funds. Instead, many terrorist groups use cash to complete all of their transactions.

Chainalysis reports that cash and many other methods of transferring value are not as transparent as Crypto. Crypto transactions are usually recorded on the blockchain, which is public and also visible.

Featured image from Pixabay, chart from TradingView.com



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