cryptocoinsnews.com / Justin OConnell / 10/06/2015
The Islamic State (IS) might be trying to use bitcoins to fund its operations. According to a well-respected journal, Foreign Policy, the US government should try the same in the fight against IS.
An individual called “Abu Ahmed al Raqqa” appealed to supporters of the Islamic State to send funds to the militant group in bitcoins to expand its “caliphate” in Internet messages posted last May. The messages were posted on the darknet.
IS has used online propaganda to further its cause, in particular with social media and other marketing blitzes to gain attention.
As Washington Post writes of Bitcoin:
The service [read: Bitcoin] has been used by drug dealers and pedophiles, so why not extremist groups? In January, Ido Wulkan, an analyst from S2T, a Singapore-based cyber-intelligence company,warned that a U.S.-based cell appeared to be raising money for the Islamic State using the dark Web.