Dark Wallet May be Used by Islamic Terrorists to Fund their Operations

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Dark Wallet May be Used by Islamic Terrorists to Fund their Operations
Dark Wallet May be Used by Islamic Terrorists to Fund their Operations

Dark Wallet May be Used by Islamic Terrorists to Fund their Operations

A blog associated closely with the Islamic State of Iraq and Syria (ISIS), titled “Bitcoin and the Charity of Violent Physical Struggle” says that the use of cryptocurrency in the global jihad can be extremely good idea. The blogger says that Bitcoin is “untrackable” by Western governments, and would allow jihadist organizations to operate without fears of having their assets seized by international banks.

The major stress of the blogger was on Dark Wallet project which is on alpha phase and may soon be available for users. According to the blogger, Bitcoin system has the potential to revive the lost Sunnah of donating to the mujahedeen, it is simple, easy, and we ask Allah to hasten its usage for us.

The anonymity-focused Dark Wallet project according to the blogger is going to be boon for Jihadist forces, as with it they would be able to receive funds from donors without even being tracked by the governments in western democracies. Currently, Dark Wallet is in alpha development phage but promises to make it harder to trace Bitcoin transactions.

The blog says that Bitcoin could enable jihad on a large scale by sending millions of dollars to fighters and allow brothers stuck outside of the ardh Dawlatul-Islam to avoid government taxes along with secretly fund the mujahedeen with no legal danger upon them. It further reads that this system has the potential to revive the lost Sunnah of donating to the mujahedeen.

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The Misuse of Bitcoin for Terroristic Activities

In the blog post the writer says that Bitcoin is simple, easy, and he asks Allah to hasten it’s usage for the mujahids. This may threaten a lot to the establishments in the US and other countries which have often been suspecting that digital currencies can be used for funding terrorist activities.

Earlier the last year, the US authorities raided Silk Road, an online drug seller and seized thousands of Bitcoin. A lot of accusations have been put on Bitcoin and it has been called the currency of drug dealers, terrorist funders, pyramid schemes, etc. However, the digital currency has stood strong over the last five years and more.

Interestingly enough, the blog contradicts what the U.S. Treasury Department said earlier that terrorists generally need ‘real’ currency, not virtual currency, to pay their expenses such as salaries, bribes, weapons, travel, and safe houses.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com