(TECHWORM) Close on the heels of the perpetrators of the gruesome attacks on innocent bystanders in Paris, GhostSec has said that ISIS terrorists are owners of a massive bitcoin wallet worth $3 million. Many analysts have been questioning the source of finances for ISIS efforts. Some have pointed to ISIS extortion rackets and ransom schemes as the prime finances, in addition to black marketing of oil in Syria.
GhostSec, which is a off-shoot of the online hacktivist collective, has said that ISIS regularly uses cryptocurrencies to fund its operations. DW (Deutsche Welle) previously reported that the Islamic State is experimenting with currency, specifically gold and bitcoin. One bitcoin wallet received around $23 million in a month; anti-ISIS hackers from GhostSec followed a chain of transactions to another wallet with over $3 million in bitcoins.
Ghost Security Group confirmed to NewsBTC that ISIS is “extensively using bitcoin for funding their operations” and that the group has “managed to uncover several bitcoin addresses used by them.” Furthermore, bitcoin is“their prime form of cryptocurrency.” No evidence was given, such as the bitcoin wallet address, as the hackers “cannot go into more detail at the moment on current investigations.”
Use of bitcoins suits the ISIS affiliates as it offers some degree of security and anonymity to its digital transactions. In this case, as regards ISIS/ISIL, it appears we have GhostSec, who in some ways have done more to disable the neo-Caliphate organization than has the U.S. government or the French with their bombings and raids. Getting to the heart of any militant organization’s financing is absolutely the best way to slow them down.
“Most of the Bitcoin funding sites utilized by the Islamic State are on the deep web and we have managed to uncover several and successfully shut them down in order to limit the funding extremists receive through the use of cryptocurrencies.”
Anonymous has already called for a global war on the online activities of ISIS with #OpParis after the gruesome terrorist act in Paris on Friday, which claimed 130 innocent lives. They have already managed to identify and shutdown 5500 Twitter accounts earlier yesterday.