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Individuals arrested in France after financing terrorists in Syria through bitcoin coupons

Individuals arrested in France after financing terrorists in Syria through bitcoin coupons

Quick take

1 minute read

  • At the end of September, 29 people were arrested in Syria by local authorities for getting involved in an operation used to help finance jihadists in the nation. 
  • The way that these terrorists were being financed is through crypto and now that these individuals are in police custody, it will help authorities cut off money laundering activities that help fund terrorism.

At the end of September, 29 people were arrested in Syria by local authorities for getting involved in an operation used to help finance jihadists in the nation. The way that these terrorists were being financed is through cryptocurrency and now that these individuals are in police custody, it will help authorities in Syria cut off money laundering activities and the use of digital currencies that help fund terrorism.

It seems that this operation has been going on for around a year and involved the individuals buying crypto coupons in France and then sending the details to jihadists back in Syria. From here, the coupons will be converted into actual cryptocurrency before selling it for Fiat on crypto platforms.

Interestingly, these criminals were aged between 22 and up to 66 years old. They were identified by the police after frequent tobacco stores in France over the past eight months to purchase bitcoin coupons which could be worth up to $177. 

The anti-terrorism prosecutor in France said the following on the matter.

“Constant surveillance of these networks prompted terrorist organizations to seek more opacity by using crypto-currencies such as bitcoin.”

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