Against the backdrop of an increase in crimes related to cryptocurrencies, several cases of placement of NFTs by terrorist organizations on trading floors and social networks have been recorded.
According to the Wall Street Journal (WSJ), Raphael Gluck, co-founder of the American research firm Jihadoscope, discovered an NFT promoting ISIS on social networks. The IS-NEWS #01 token features an image with the Islamic State emblem and text praising Afghanistan-based Islamic militants for attacking Taliban positions.
The collectible token was never put up for sale, but was registered on the NFT trading platform OpenSea. Upon learning the nature of the token, the platform promptly delisted and closed the account of its creator, citing a “zero tolerance policy for inciting hatred and violence.”
Former U.S. federal intelligence analyst Mario Cosby, who specializes in cryptocurrencies, reported that on August 26, a user created two more NFTs. One shows an Islamic State militant teaching students how to make explosives, while another denounces cigarette smoking. While none of the NFTs have been sold, Cosby says the emergence of terrorist-created tokens is worrying because “they are as censorship-proof as possible.”
“In fact, there is nothing anyone can do to really destroy this NFT,” he stressed.
Three more terrorist NFTs have been spotted and removed from Rarible and other marketplaces. US intelligence agencies have said that terrorist groups can use blockchain and non-fungible tokens to evade sanctions and raise funds for their criminal campaigns.
Security experts have previously raised concerns about the potential for new technologies and markets to be used to fund terrorist activities. Back in 2020, the US Department of Justice reported that it had confiscated more than $2 million worth of cryptocurrencies from three terrorist groups.
Source: Bits
I’m James Harper, a highly experienced and accomplished news writer for World Stock Market. I have been writing in the Politics section of the website for over five years, providing readers with up-to-date and insightful information about current events in politics. My work is widely read and respected by many industry professionals as well as laymen.
