French Police Arrested 29 Suspected of Financing Islamist Extremists in Syria via Cryptocurrencies

In France, around 29 people have been arrested by French authorities who were found to be allegedly funding Islamist Extremists in Syria by using digital currencies. A network of funding al-Qaeda members and jihadists via cryptocurrencies was being run by these suspects and reportedly, they have sent them a huge amount of funds in crypto.

French police take into custody 29 people

The news was reported by ABC News on Wednesday according to which these suspects have sent ‘hundreds of thousands of euros’ in digital currencies to Jihadists and Al-Qaeda members through this network which is said to be operating for over one year.

However, the French Police have taken into custody 29 suspects for questioning and interrogation. They are aged between 22 and 66. Out of these 29 people, two are said to have played a crucial role in the cyber financing system. They have been arrested in a major operation that was conducted for cracking complex scheme of terrorist financing led by two extremists of France who have not been arrested so far. Mesut S. and Walid F. are thought to have a connection with Hayat Tahrir Al-Sham which is an affiliated network of Al-Qaeda.

Reportedly, an investigation was opened by France in the month of January this year. The investigation was started after the French economy ministry known as Tracfin discovered this network of terrorists that was transferring funds to jihadists residing in Syria.

The terrorists in France have used cryptocurrency coupons which they had purchased worth 10 to 150 euros from Tabacs a licensed tobacco outlet. Jihadists in Syria received details regarding these crypto coupons through secure messages. These cryptocurrency coupons had continuously been being purchased by them in the country.

As per the report, terrorists initially have been using the method of cash for funding jihadists since the year 2013. However, this method was visible and they moved into a new financing system once authorities started taking strict actions illegal activities. After that, they used a less visible system which led them to use digital currency as a method for financing terrorists.

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