A new research conducted by Chainalysis has reportedly shown that terrorists are adopting digital coins as a means of refining their illegal operations. 

Specifically, on January 17th, blockchain analyst team at Chainalysis has zoned in on Izz ad-Din al-Qassam Brigades (AQB) – the military division of Hamas, and an acknowledge terrorist group – as an example of terrorists employing digital coins as a tool to enhance their illegal activities.

AQB has set up a web page, which provides a Bitcoin address for every donor, to keep deposit assets. The website also comes with an instruction clip of how to achieve the maximum anonymous level, upon their donation process. 

AQB has managed to reduced the required duration to generate the amount and number of donor, equivalent to the same types of campaigns conducted in the past. 

Aside from terrorists, Ponzi schemes and hate crimes are 2 other instances with the support of digital coins. Chainalysis has also discovered a $2.8 billion in Bitcoin, in connections between criminal organizations to crypto exchange platforms. 

The use of crypto in organized crime has also been placed under a thorough inspection scope from regulators, as well as governmental authorities, who is looking to keep a closer supervision on digital assets. 

“The FATF will make sure that virtual asset service providers do not operate in the dark shadows […] This will enable the emerging FinTech sector to stay one-step ahead of rogue regimes and sympathizers of illicit causes…” Treasury Secretary Steve Mnuchin praised initiatives to keep crypto away from crimes.