TRM Labs Blockchain Intelligence Platform recently released a report highlighting the use of cryptocurrency Intensified by the Islamic State of Iraq and Syria (ISIS) group across Asia, significant on-chain links have been found between these groups and ISIS fundraising campaigns in Syria.
published reportOn July 21, it said it had “increased amounts of on-chain evidence” from the past twelve months that Networks supporting ISIS in Tajikistan, Indonesia, and Afghanistan. Has used digital currency to help facilitate operations.
According to TRM, the vast majority of transactions involved using Tether on the Tron network. Back then, Tara Annison, former chief technical advisor at Elliptic, recently highlighted that Tron and Tether are popular assets for illicit applications.
Annison explains that decentralized exchanges (DEXs) with high liquidity and “Good volume” makes money laundering “very easy”
The report also found that many people use Indonesian exchanges to send money to wallet addresses related to ISIS fundraising campaigns in Syria.
“Over $517,000 was sent in 2022 by an individual using an Indonesian exchange to a wallet address identified by TRM Labs as belonging to a fundraising campaign supporting ISIS in Syria and a local exchange facilitating their activities.”
TRM explained that the fundraising campaign claimed that the funds were used to support and “Helping ISIS families detained in Syrian camps”
“All transfers are made using USDT on the Tron network in $10,000 increments,” TRM wrote.
refer : cointelegraph
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