Terrorist groups may turn to NFTs to raise money and spread messages, reports the Wall Street Journal

The first recognized case of a non-binding token (NFT) created and distributed by a “terrorist-affiliated terrorist” has come to gentle, with considerations that the immutable nature of blockchain know-how might assist spread terrorist messages and propaganda.

In an article on Sunday in The Wall Street Journal (WSJ), consultants stated NFT might be an indication that Islamic State and different terrorist groups may use blockchain know-how to keep away from punishment and raise money for his or her campaigns.

The NFT in query was obtained by Raphael Gluck, co-founder of the US investigative agency Jihadoscope, who obtained the NFT by means of pro-ISIS social media accounts.

The digital sign, referred to as IS-NEWS #01, incorporates a picture of the Islamic State with a caption praising Islamic militants from Afghanistan for attacking Taliban positions.

Mario Cosby, a former federal regulation enforcement professional specializing in blockchain money, stated the person created two extra NFTs on Aug. 26: one exhibits an Islamic State fighter instructing college students how to make explosives and one other condemns smoking.

Investigators stated this might be an indication that terrorist groups can use know-how to spread their message and attempt new methods to raise money.

“It’s an experiment […] discovering methods to preserve issues from going unhealthy,” Gluck stated.

The digital token would have been listed on the NFT market OpenSea, however the firm shortly eliminated the supply and closed the account that posted it, citing “a coverage to forestall hate and violence.”

Three of the NFTs may also be out there on the NFT Rarible market and a number of others shall be pre-listed.

Although none of the NFTs seem to have been traded, Cosby says that the existence of the tokens is trigger for concern as a result of “it is as a lot a affirmation of research as attainable,” including:

“There is nothing they will do to convey down this NFT.”

Security consultants have already expressed concern about the potential of criminals in the future to use rising applied sciences and markets, together with NFTs, to assist criminals.

In February, the US Treasury Department launched a research highlighting the progress of the NFTs market as a possible space of ​​concern.

In March, Israeli authorities seized 30 cryptocurrency wallets from 12 change accounts belonging to Hamas, a terrorist group based mostly in the Gaza Strip.

Last April, Matthew Levitt, director of the Jeanette and Eli Reinhard Program on Counterterrorism and Intelligence at the Washington Institute for Near East Policy, informed Cointelegraph that whereas the cryptocurrency has been linked to the variety of crimes and money laundering, “it has not but grow to be a way of acquiring funds for terrorism.

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