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Terrorist Groups Associated with ISIS Use Crypto for Fundraising, TRM Labs Reports

According to a report by blockchain analytics firm TRM Labs, terrorist groups associated with ISIS are using cryptocurrency for fundraising, with some groups raising millions of dollars. Pro-ISIS groups in Tajikistan raised $2 million in Tron-based USDT in 2022, which was used to recruit fighters for ISIS's affiliate in Afghanistan. The groups used a centralized exchange to cash out the funds, allowing TRM to trace the money and notify the exchange, leading to the arrest of a senior ISIS fundraiser. Other pro-ISIS groups in Indonesia and Pakistan also raised funds using cryptocurrency.

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