Blockchain analytics firm Chainalysis recently announced plans to release a report later this month that details the use of cryptocurrency as a terrorism financing tool. According to prior reports, the media wing of a jihadist group, designated as a fForeign Terrorist Organization by the U.S. State Department, launched a cryptocurrency crowdfunding campaign in 2016. Over the two years that the campaign ran, the organization reportedly received tens of thousands' worth of cryptocurrency from roughly 50 different donations. According to Chainalysis, the median donation was $164.

In related news, the Israeli International Institute for Counter-Terrorism (ICT) recently identified what may be a bitcoin front for an organization with links to Hamas and Iran. The organization reportedly uses a service called "Cash4ps" to send and receive money to its fundraising wallet for operations in and out of the Gaza Strip. According to ICT's investigations, the wallet's transactions over the past four years total roughly 3,370 bitcoin (approximately $29 million at current prices). A Chainalysis post analyzed the report findings and noted that not all bitcoin received by Cash4ps during its lifetime represented donations to the organization, since the majority of transactions were internal transfers.

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