Groups frowned upon by established authorities, such as terrorist groups and revolutionaries, may find cryptocurrency alluring, but sometimes things like this can happen …<\/p>\n
The Justice Department seized $2 million worth of cryptocurrency from terror groups in the Middle East, federal prosecutors announced Thursday, marking the largest ever US government takeover of online terrorist financing.<\/p>\n
The funds from ISIS, al Qaeda and the al Qassam Brigades, the military wing of Hamas, would likely have been used by the groups to buy weapons and train would-be attackers, Justice Department officials said.<\/p>\n
“Two million dollars is a lot of equipment that they can buy, a lot of weapons a lot of training that they can fund, a lot of tickets to fly people around the world,” said John Demers, the assistant attorney general in charge of the Justice Department’s national security division. “This is going to make a big difference in their operation.”[CNN\/Politics<\/strong><\/a>]<\/em><\/p><\/blockquote>\n
The problem with hard currency is security: transportation and storage can be a chancy business. The ease of use and security of cryptocurrencies, though, have a counterbalance in ease of confiscation, or even just simple disappearance. If you’ve invested in bitcoin and the infrastructure disappears, too bad for you.<\/p>\n
While hard currency can lose its value due to inflation, at least it still has some. Quick conversion into weapons or other supplies may be a wise move, depending on the stability of the country issuing the currency.<\/p>\n","protected":false},"excerpt":{"rendered":"
Groups frowned upon by established authorities, such as terrorist groups and revolutionaries, may find cryptocurrency alluring, but sometimes things like this can happen … The Justice Department seized $2 million worth of cryptocurrency from terror groups in the Middle East, federal prosecutors announced Thursday, marking the largest ever US government \u2026 Continue reading