Growing evidence suggests that terrorism is being increasing funded using crypto, according to a United Nations official.
The prevalence of crypto-funding of terrorist activities may have quadrupled in recent years, said Svetlana Martynova at a recent conference.
The senior legal officer at the U.N.’s Counter-Terrorism Committee Executive Directorate estimates that 20% of terrorist attacks have been crypto-financed. She reported these numbers seemed to have increased as scrutiny of the illicit use of cryptocurrencies has intensified.
Criminal activities associated with cryptocurrencies rose to a record high last year, according to the most recent report from Chainalysis. The figure has nearly doubled, from $7.8 billion in 2021, with illicitly-associated addresses receiving $14 billion in 2021.
Chainalysis highlighted a number of militant organizations that had made efforts to finance their operations with…
