Introduction
In July 2022, MEMRI published a seminal work, titled The Eye Of The Storm - [Domestic] Terrorists Using Cryptocurrency – Part II – Following In Jihadis’ Footsteps, Neo-Nazis Turn To Cryptocurrency. Since the publication of that report, extremists across the world have continued to use cryptocurrencies to fund their efforts.
They have been fundraising in cryptocurrencies including Bitcoin, Monero, Ethereum, Tether, Cardano, Ripple, Polkadot, Binance Coin, Litecoin, Chainlink, Stellar, Bitcoin Cash, Dogecoin, USDCoin, Aave, Uniswap, Bitcoin SV, Nem, Tron, Cosmos, Dash, Dai, Ethereum Classic, Nano, ZCash, and Phantom Solana. The funds are raised for range of purposes: purchasing weapons, military equipment, drones, medicine, fuel, and food, and paying for services including medical treatment, vehicle repairs, legal defense, messaging, and journalism. They also going for website maintenance, servers, and cyber security, as well as for the establishment of a whites-only eco-village.
Cryptocurrencies most commonly used by neo-Nazis and white supremacists; the larger the logo, the more frequently that cryptocurrency is used.
The November 2022 bankruptcy and liquidation of the FTX cryptocurrency exchange, which was headed by Sam Bankman-Fried, temporarily cooled some extremists' interest in cryptocurrencies, but that interest is resurging. The Gab platform, among others, accepts cryptocurrency on its own payment platform GabPay.
On April 27, 2023, a bipartisan bill called the Financial Technology Protection Act and introduced in the Senate and the House of Representatives calls on the federal government to study how cryptocurrencies are used for illegal activity and recommend ways to mitigate these uses. The act would establish a working group to study how terrorists or other criminals might use cryptocurrencies and other new financial technologies, and propose means of countering these uses to Congress and regulatory agencies. Jim Himes (D-CT), ranking member on the House Intelligence Committee and one of the bill's cosponsors, said that "the rapid evolution of our financial systems demands increased attention to reduce risk and combat abuse by terrorist organizations." The working group, if formed, would comprise representatives from the U.S. Treasury Department, Financial Crimes Enforcement Network (FinCEN), the IRS, the Office of Foreign Asset Control (OFAC), the FBI, DEA, DHS, DOJ, CIA, DOJ, and State Department, as well as representatives from the industry and from analytics firms, financial institutions, and research organizations.[1]
This report will review activity connected to cryptocurrency by neo-Nazis, white supremacists, anti-government extremists, accelerationists, and others, on Instagram, YouTube, Telegram, Gab, and Odysee and these extremists' own independent websites. This activity is taking place in the U.S., Russia, Canada, Austria, the U.K., Ukraine, Australia, Canada, France, Germany, Scotland, South Africa, and Georgia. An Appendix lists the cryptocurrencies used and what they are being used for.
Table Of Contents
U.S.
Russia
Austria
UK
Ukraine
Australia
Canada
France
South Africa
Germany
Scotland
Georgia
New Zealand
YOU MUST BE SUBSCRIBED TO THE MEMRI DOMESTIC TERRORISM THREAT MONITOR (DTTM) TO READ THE FULL REPORT. GOVERNMENT AND MEDIA CAN REQUEST A COPY BY WRITING TO DTTMSUBS@MEMRI.ORG WITH THE REPORT TITLE IN THE SUBJECT LINE. PLEASE INCLUDE FULL ORGANIZATIONAL DETAILS AND AN OFFICIAL EMAIL ADDRESS IN YOUR REQUEST. NOTE: WE ARE ABLE TO PROVIDE A COPY ONLY TO MEMBERS OF GOVERNMENT, LAW ENFORCEMENT, MEDIA, AND ACADEMIA, AND TO SUBSCRIBERS; IF YOU DO NOT MEET THESE CRITERIA PLEASE DO NOT REQUEST.
The full text of this post is available to DTTM subscribers.
If you are a subscriber, log in here to read this report.
For information on the required credentials to access this material, visit the DTTM subscription page
