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Editor’s update: After being pointed to by CCN’s readers, the original featured image containing al-Qaeda’s flag is now replaced with one containing the Islamic State flag.

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Following the recent attacks on Paris, GhostSec, an Anonymous off-shoot which actively hacks ISIS efforts worldwide, said that ISIS regularly uses cryptocurrencies to fund its operations. It offered evidence from September, in which the group believed it had uncovered a single address worth $3 million in bitcoins (which would have appreciated significantly here recently.)

The group had a lot more to say during an interview with a competing outlet, NewsBTC, who beat CCN to the scoop.

The Islamic State does use cryptocurrencies as a form of income to fund their ongoing operations and we have managed to uncover several Bitcoin addresses used by them.

Nevertheless, the interview was compelling evidence that cryptocurrencies are perhaps better suited than anything to provide some degree of security, finality, and integrity to digital transactions. Most importantly, it belies the current murmurs that Bitcoin could potentially become just another tool of financial censorship.


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Terrorist picture scanThis is not to forgive the funding of terrorism by any means, but to point out that one of the important functions of cryptocurrency is that it cannot be censored by the whims of various figureheads. One never knows what might be next on the agenda. Animal rights activists? Environmentalists? Labor organizers? The list of groups whose finances, in the eyes of the state, might need to be seized or shut off, goes on. As with any liberating technology, Bitcoin helps both objectively benign and objectively horrific agendas along. It is one of several technologies ISIS’ digital arm have utilized to aid their friends in Syria, Iraq, Lebanon, and elsewhere. The Internet itself is a tool of terrorism.

All hope is not lost. In chaotic situations, honorable folks still stand out from the huddled, fearful masses. In this case, as regards ISIS/ISIL, it appears we have GhostSec, who in some ways have done more to disable to the neo-Caliphate organization than has the US Government or will the French with their bombs and guns. 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.

GhostSec should be lauded for their efforts. They even have a site set up where netizens can report ISIL activities for the group to deal with. We live in an interesting time, when citizens feel compelled to stand up and do things the government has passed laws against (except if the government wants to do it) in order to fight truly violent men who appear hell-bent on destabilizing as much of the world as possible.

While most people passively wait for the governments to resolve the crisis, GhostSec has identified the greater of two evils, and actively works to disrupt them. They have incorporated as a self-funded non-profit organization, and have said publicly that any tips should be directed to http://reportonlineterrorism.com.

Image from Wikimedia and Shutterstock.

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Posted by P. H. Madore

P. H. Madore has been publishing since 2003. Tip: 1phmMcubFy298wujNFj6hQ1gctUBFovmL -- Visit me on Steem: https:[email protected]

31 Comments

  1. I absolutely love your blog.. Very nice colors & theme.
    Did you develop this site yourself? Please reply
    back as I’m trying to create my own personal site and want to learn where
    you got this from or just what the theme is named.

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  2. Good respond in return of this question with solid arguments and explaining the whole thing about that.

  3. Quit trying to being nice; Obviously some are not mature enough to debate with.

  4. Stop reporting Propaganda! If there is a wallet why hasn’t it’s address been released? Why hasn’t the work that went into the determining that this wallet is connected with ISIS been released? Where is the credible factual information at?

  5. Sure there is everybody who has an anti btc/crypto opinion(inconvenient truth and a real world grip on reality.) no matter how politely worded is called fudster, troll and in time banned.

  6. it would make sense, there is a lot of people their that don’t have while a few horde mass fortunes away. mabey the shiik has gold bars but lil sadjic javardadadar from the sticks aint got shit but his camel or goat and with 4 wives, how much bread you think they gonna have??that’s at least 4 kids at a conservative guess..it would make perfect sense for him to keep his main bank roll in virtual bits, like a 401k to cash in whenever or if ever shit goes down and the jihad biz goes defunct, like retirement.

  7. intext:ISIS | ISIL | bitcoin |1***********************************

    intext:ISIS | ISIL | bitcoin |1*********************************** ext:txt

    intext:ISIS | ISIL | bitcoin |1*********************************** ext:pdf

  8. I’ve had it up to my ears with this pc liberal bs! FREEDOM OF SPEECH FREEDOM OF EXPRESSION! DEAL WITH IT JACKASS!

  9. Underbridge 21/11/2015 at 21:25

    “to delusional morons like yourself it comes off as abusive I suppose”

    And that’s why it’s a manners issue.
    When you say “I disagree with you, because XYZ,” everyone listens, and debate ensues.
    But when your comments are more like “I disagree with you, you stupid dipstick squirt moron dipwad fool”, it’s hardly surprising that someone at NewsBTC eventually wielded the banhammer.
    There’s no basis for your claim that it’s all a censorship conspiracy against anti-Bitcoiners. Lol.
    /eoc

  10. No again when a person speaks the hard inconvenient truth to delusional morons like yourself it comes off as abusive I suppose. Doc tamer is a dipwad, his “blackbelt” article against cointelegraph a site he has written for blaming them for extactly the same thing news btc does and me posting links and proof explaining and proving it along with exposing newsbtcs site being hacked and held ransom by hacker #alpha1 a few days ago and his other trash everyone for fun site sharkbitebtc getting hacked is why the coward banned me. If youlre going give me a hard time at least get the facts straight m’kay fool.

  11. Underbridge 21/11/2015 at 16:20

    Trust me, Brunoxxx. Your ban on another site was for being abusive and belligerent to everyone, including the author of the article you were commenting under. They warned you before banning; you can’t say fairer than that, but you carried on with your hating on individuals.

    It was a manners fail, not a speaking your mind issue.

  12. No it was for speaking my mind, something bitcoiners hate.

  13. Underbridge 21/11/2015 at 04:21

    I think your ban elsewhere was for being abusive to other commenters on that site, not for holding a different opinion to them.

    Plenty of trolls here voice their opinion without name-calling and ad hominems, and they don’t get banned.

  14. Uh no and stuff. Actually crypto types love censorship, they ban and delete aka censor anyone who doesn’t think crypto is the second coming.

  15. If your entire living is based on btc you don’t have much or live well at all.

  16. Robert Genito 20/11/2015 at 19:39

    dude, shut up you troll. my entire living is on bitcoin, and i’m clearly not in jail. 100% legal activity.

  17. Robert Genito 20/11/2015 at 19:39

    Correction: nearly all crypto is used for anti-censorship purposes.

  18. You helped make this article, this website, the Internet, more accurate/consistent.
    That’s nothing to be ashamed of.

  19. stckpkr7000 19/11/2015 at 22:30

    What garbage! Do these writers do an ounce of real research any longer?

  20. Brony Pony 18/11/2015 at 20:25

    Wish you would fact check this **** before getting real media and gov involved…
    =
    http://news.markets/bitcoin/ghostsec-denies-claiming-link-between-bitcoin-and-paris-attacks-4759/

  21. 100% true.

  22. Nearly all crypto is used for criminal purposes, not all crypto is used for terrorism but still….all this a ruse to control fiat transfers really?

  23. IS get billions in oil revenue….. Now a Bitcoin wallet was ‘found’ (where’s the proof?) with only 3 million in it to fund future terrorist operations? This is pocket change for these guys and this article is only written to discredit cryptocurrencies and try to get even more control over the fiat transfers. Don’t fall for it…

  24. RCMP / FBI are known to create fake ISIS profiles on Social Media too help find Terrorists.

  25. Oh fer it’s well known btc and crypto is 99.99% used for illegal activity. Denying the truth won’t make the truth any less true.

  26. Brony Pony 17/11/2015 at 22:43

    How dare you call your self a cryptocoin news site and post this bullshit,,, they probably have 50 million in USD and get funded by the Saudis so no real need for Bitcoin unless the U.S is directly funding lol

  27. Underbridge 17/11/2015 at 22:22

    Lol, these comments have led to Al-Qaeda’s flag being hauled down and IS’s being run up.
    Now I come to think about it, I’m not sure how I feel about that… :-
    I’ll probably keep quiet next time I see the same mistake.

  28. Bruce Barry 17/11/2015 at 16:54

    hahaha. I bet ISIS is CIA

  29. I bet GhostSec is CIA

  30. Yes, Al-Qaeda flag. It reads “there is no god but God, and Muhammad is the messenger of God”.

    And the address, how can anyone prove anything… I mean, have we seen an ISIS dude buy a case of RPG loads using that address? Is that the kind of thing we need to prove the address is theirs?
    Some non-ISIS person can start a site and post an address for donations…

    I wouldn’t be surprised if the address is associated with addresses from Silk Road transactions, of course, the media will spin it as “drugs finance terrorism”.

  31. Underbridge 16/11/2015 at 22:58

    GhostSec still not sharing the address of the wallet? There’s only a few addresses with that sort of balance, most of which haven’t spent anything (I assume GhostSec’s claimed trace is through outputs rather than inputs!)
    PS Wrong flag. That one’s Al Qaeda, I think.

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