Islamic State terrorist group dumps Bitcoin for Monero privacy-oriented cryptocurrency to raise funds

One of the most dreaded terrorist organizations in the world, Islamic State of Iraq and Syria (ISIS), has switched to accept Monero (XMR) for donations from the public through an affiliated news website own by the jihadist movement association.

After accepting Bitcoin as a donation option for three years, the Jihadist movement association, on the 21st of June, updated its news website, revealing that it now accepts only Monero, a privacy-oriented cryptocurrency, for donation.

Information published on the website describes Monero as a more secured and untraceable payment method, it further explained how prospective donators could purchase and send XMR, highlighting the XMR address to make their donations.

ISIS have been ousted from Iraq, Libya and Syria and has since primarily operated in Northern Nigeria and Sinai region in Egypt, nevertheless ISIS successes are featured on the Jihadist movement association news website.

Whitestream blockchain intelligence however took to twitter to express happiness, that global collaboration and awareness had helped dissociate ISIS from Bitcoin

It It can be recalled that series of regulatory steps have been taken to curtail terrorism activities to adopt cryptocurrencies, few of which include the sentencing of a woman to 13 years imprisonment for using Bitcoin to launder money for terrorists.

While some of Bitcoin critics uses this point nail the cryptocurrency for not being a suitable currency that can be used across the world, claiming that it facilitates the activities of terrorists, Bitcoin enthusiasts have replied on several occasions that all currencies, including the USD, are used in terrorism.

However, crypto exchanges are making means to prevent such illicit activities by introducing KYC and other schemes that will permit easy tracing of fund if the need be.

Source: News Logical