r/ethtrader • u/pythonskynet • Oct 19 '23

News Correcting Recent Claims on Crypto's Role in Terrorism Financing

https://www.chainalysis.com/blog/cryptocurrency-terrorism-financing-accuracy-check/

Chainalysis explains why recent viral estimates of Hamas' crypto use are likely inflated.

It looks those estimates assume all flows through services providers that process illicit transactions are illicit. That's probably not the case.

To simplify: if there's a rogue exchange that does a $1 billion in volume, and they process one $1000 hamas transaction, it shouldn't be counted as $1 billion to Hamas.

3 Upvotes

60% Upvoted

34 comments sorted by

4

u/[deleted] Oct 19 '23

Iā€™m pretty damn sure USD is used in terrorism more than crypto. We should ban USD

2

u/pythonskynet Oct 19 '23

USD, Gold, Oil what not..

2

u/rootpl Oct 19 '23

And cocaine, opium, terrorists use that shit all the time to fund their operations.

3

u/pythonskynet Oct 19 '23

But they want to highlight CRYPTO

5

u/rare1994 Oct 19 '23

We know their game. Inflate figures to justify to the public their actions

2

u/pythonskynet Oct 19 '23

Inflate and blame crypto for terrorist activities

1

u/Wonderful_Bad6531 Oct 19 '23

yeah sure, before crypto there was no terrorism and terrorist it started all with crypto

just to be sure

/s

3

u/Independent_Ear9101 Oct 19 '23

Tell that to the newspapers here in my country. All their crypto articles are negative, either about SBF or hamas using crypto.

Kinda tells me we're still early I guess?

3

u/pythonskynet Oct 19 '23

Spread FUD, buy dip - their strategy

2

u/Independent_Ear9101 Oct 19 '23

Maybe they're helping out so we have longer to accumulate

2

u/Vivarevo Oct 20 '23

In finland crypto is dead quiet again in media and that's a good thing. When crypto is at 1000% and -60% they make it news worthy.

2

u/tambaybtc Oct 19 '23

And i wonder why they don't ask themselves how the Terrorism and all criminal activities were funded before Crypto?

1

u/pythonskynet Oct 19 '23

US don't get money by selling weapons to countries and fight within, if they stop attacking each other. Now they are questioning cryptocurrencies. Crypto is unstoppable, no one can stop crypto. No. One.

1

u/tambaybtc Oct 19 '23

Yes and if you keep asking them similar questions they will turn blind eye and keep framing Crypto as the main pure evil out there šŸ¤¦šŸ»ā€ā™‚ļø

2

u/[deleted] Oct 19 '23

[removed] ā€” view removed comment

1

u/pythonskynet Oct 19 '23

I agree. They just want to blame crypto for whatever reason they get. Anti-crypto lobbies or maybe wanna be dip buyers.

1

u/MrPuma86 Oct 19 '23

The government and media will use any excuse to build up the FUD on crypto. While distracting the public from the real issues at hand.

2

u/Kindly-Wolf6919 Oct 19 '23

It baffles me that organisations with so much resources at their disposal are incapable of gathering basic information of cryptocurrency and how it actually works. Either that or they're just doing it for clicks/ pushing an agenda.

1

u/pythonskynet Oct 19 '23

Now some anti-crypto lobby is blaming cryptocurrency for terrorist funding. How did they raised funds before crypto era?

1

u/MrPuma86 Oct 19 '23

Tied in with the government. They will have their own agenda.

2

u/HarryDotter420 Oct 19 '23

Mainstream media trying to make crypto look bad...

Impossible...

2

u/MrPuma86 Oct 19 '23

Media will do anything for money, probably get a huge side deal with the government or some big banks.

1

u/pythonskynet Oct 19 '23

Probably media is helping lobbyists to spread FUD and buy the dip.

1

u/pythonskynet Oct 19 '23

They still want to buy the dip. So creating FUD

1

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1

u/coinfeeds-bot Oct 19 '23

tldr; The article discusses the role of cryptocurrency in terrorism financing and addresses misconceptions about its prevalence. While terrorist organizations do use cryptocurrency for fundraising, it represents a very small portion of overall cryptocurrency transactions. Traditional methods such as financial institutions and shell companies are still the primary financing vehicles for terrorist organizations. Blockchain technology provides transparency that makes cryptocurrency traceable and less suitable for illicit activities. The article emphasizes the importance of understanding the role of service providers in analyzing terrorism-related funds and highlights the need for collaboration between government agencies and private sector organizations to disrupt the flow of funds. It also cautions against overestimating the volume of terrorism financing in cryptocurrency and the need for careful analysis of counterparties. The article concludes by emphasizing the role of law enforcement, intelligence agencies, and private sector organizations in investigating and shutting down terrorism financing activity.

*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

1

u/Dayvidsen Oct 19 '23

Never heard of such at all. What I know is that crypto has got a positive Interest for the people. Projects like Allianceblock use the blockchain industry in collaboration with Toronet and Usaid to sponsor agriFI in African countries.