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A 16-year-old boy from East London is facing multiple terrorism charges for allegedly attempting to raise cryptocurrency for Al Qaeda.
Prosecutors claim that the teenager offered his skills in digital currency and cybersecurity to aid the terrorist organization.
<h2 id="suspect-pleads-not-guilty-to-charges">Suspect Pleads Not Guilty to Charges</h2>
The teenager, who cannot be named due to his age, has been charged with terrorist fundraising, training in acts of terrorism, and possession of documents containing information potentially useful for terrorism. According to a <a href="https://www.standard.co.uk/news/crime/teenage-boy-cryptocurrency-terrorism-fundraising-al-qaeda-b1190973.html" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">report </a>from the Standard, the boy has pleaded not guilty to all five counts.
Following the October 30 hearing at Westminster Magistrates Court, Chief Magistrate Paul Goldspring referred the case to the Old Bailey, where it will be addressed further on November 2.
The prosecution, led by Lee Ingham, claimed the boy was “ideologically supportive of Islamic terrorist groups,” specifically Al Qaeda and TTP (the Pakistani Taliban).
Ingham said that he allegedly portrayed himself online as an expert in cryptocurrency and cybersecurity, hoping to appeal to terrorist groups and raise funds on their behalf. Court records state that approximately $1,300 in crypto was raised.
As a part of his bail conditions, the 16-year-old is subject to a curfew, a social media ban, and restrictions on electronic device usage. He can only use a laptop for educational purposes and is permitted to use a PlayStation but cannot play online with others or use it for communication.
<h2 id="terrorist-groups-use-of-crypto">Terrorist Groups’ Use of Crypto</h2>
According to blockchain analytics firm Chainalysis, most crypto-related crimes are <a href="https://www.chainalysis.com/blog/assessing-terrorism-financing-on-chain/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">linked </a>to money laundering, fraud, and ransomware, while terrorism financing accounts for only a small portion of these illicit activities. Despite this, such crimes present significant challenges to regulatory and law enforcement agencies worldwide.
Last year, Israel <a href="https://www.timesofisrael.com/in-first-israel-seizes-crypto-accounts-linked-to-irans-quds-force-hezbollah/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">seized</a> around 40 crypto wallets associated with the Quds Force, an arm of Iran’s Islamic Revolutionary Guard Corps, and Hezbollah, a Lebanon-based militant group. This incident was notable as it marked the “first incident of this magnitude” carried out by the country at the time.
Chainalysis also described the seizure as one of the first public instances of sophisticated, cross-border financing using digital assets. The company <a href="https://www.chainalysis.com/blog/israel-nbctf-hezbollah-iran-quds-crypto-seizure/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">explained</a> that this method was different from traditional social media-based donation campaigns and reflected a more calculated use of cryptocurrency by state-sponsored entities.
Last year, Hamas also reportedly <a href="https://cryptopotato.com/heres-the-new-crypto-network-used-in-financing-hamas-fight-against-israel-report/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">restructured</a> its digital fundraising methods by shifting from Bitcoin to the Tron blockchain, capitalizing on the latter’s faster, more cost-effective transaction processing.
While law enforcement pressures had previously caused Hamas to <a href="https://cryptopotato.com/hamas-armed-wing-to-stop-accepting-bitcoin-donations-report/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">abandon </a>its previous Bitcoin donation channels, the group’s shift to an alternate network shows the lengths these terrorist groups will go to to evade regulatory scrutiny.
The post <a href="https://cryptopotato.com/london-teen-accused-of-helping-al-qaeda-raise-funds-in-crypto-report/" rel="noopener noreferrer nofollow">London Teen Accused of Helping Al Qaeda Raise Funds in Crypto: Report</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

London Teen Accused of Helping Al Qaeda Raise Funds in Crypto: Report

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