The terror group ISIS is reportedly trying out a blockchain-based messaging app to escape scrutiny from its enemies.
Until a recent law enforcement crackdown, the jihadists used Telegram to spread propaganda and send orders.
But now it appears the extremists are exploring using the anonymous and encrypted BCM app.
“The app’s core features of anonymity, encryption, and large group chat sizes also pose a great risk for adoption,” Brenna Smith, a cryptocrime researcher, wrote in her Cryptosint newsletter last week.
“Extremists covet technologies that can get their message out to thousands all while concealing their identity.”
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— Brenna Smith (@brenners_smith) December 10, 2019
“It’s been widely reported that crypto platforms with no user identification become cesspools for criminal activity.
“Compounded with BCM potentially launching its own exchange platform in the future, what would stop the app from becoming a major hub for terror financing?”
BCM did not comment on the presence of ISIS channels on its platform or whether it would be removing them.
The Royal United Services Institute (RUSI), an independent think tank for international defence and security issues, says cloud-mining companies that take cash for crypto may be helping crooks hide their illicit gains.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.