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Accounts Of Extreme Right Groups In US Are Significantly Replenished With Crypto

Published: 07/08/2018
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What is it for?

The crypto sphere representatives note the growth of donations in cryptocurrency to neo-Nazi associations on the eve of their next meeting, Forbes reports.

 

Unite The Right, the second meeting of ultra-right organizations, will be held on August 11 in Washington, DC. Presumably, 400 people will attend it. The less time remains before the event, the more funds in BTC and other cryptocurrencies are transferred to the accounts of the leaders of neo-Nazi associations.

 

The same situation was last year when Unite The Right took place in Charlottesville, Virginia. Collisions with the ultras' opponents led to the death of one person at that time.

 

The cyber security expert John Bambenek collects data on the financing of ultra-right associations that are discussing increasing donations to activists of the movement on their The Daily Stormer website. Last year, on the eve of the Charlottesville rally, $60,000 was collected in bitcoin and other cryptos, and this time the activists managed to raise more than $1.8 million.

 

Bitcoin donations to the Daily Stormer (Source:John Bambenek / Neo-Nazi BTC Tracker Twitter bot)

 

It is likely that this is not the full amount of funds, because neo-Nazis have anonymous wallets. They prefer to keep money not in bitcoins, but in Monero, using the anonymity of this cryptocurrency, Bambenek states.

 

The expert is trying to find a sponsor who donated about 14.88 bitcoins to The Daily Stormer website, the amount equivalent to $56,000 at that time. Moreover, Bambenek contacted representatives of a number of crypto exchanges, informing that they may provide services to neo-Nazis.

 

Regulatory financial authorities stress that extremist organizations often use cryptocurrency to finance their shares around the world due to its anonymity and simplicity of use. American nationalist Richard Spencer even called bitcoin the currency of the far-right, while many already know how to buy and store the first cryptocurrency.

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