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26 November 2020

No Evidence ISIS Is Storing $300 Million in Bitcoin, Says Chainalysis | News Bitcoin News

No Evidence ISIS Is Storing $300 Million in Bitcoin, Says Chainalysis | News Bitcoin News


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No Evidence ISIS Is Storing $300 Million in Bitcoin, Says Chainalysis.

A few days ago, the director of the Counter Extremism Project claimed that ISIS had up to $300 million stored in bitcoin.

The company explained that if the terrorist organization “funneled oil proceeds into bitcoin, trading volume of regional exchanges and money service businesses would have reflected this flow of funds.”.

Chainalysis also spoke about the reports of terrorism fundraising campaign run by Popular Resistance Committees (PRC) through Cash4ps, a Gaza-based money service business, to raise $24 million through crypto, calling it “misinformation.”.

“The firm…claimed that the balances in Coin Payments’ wallets surged from $500,000 to $4.5 million just one day before the Easter attacks but dropped back to $500,000 right after the attacks took place,” said Chainalysis.

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