The anonymity provided by Bitcoin and Altcoin was supposed to give users much-needed protection when making payment transactions.
But criminals have leveraged this anonymity feature for their own benefit and used these cryptocurrencies to conduct illegal transactions and avoid detection from the authorities.
Just like Hisham Chaudhary, a resident of Leicestershire, United Kingdom, who was found guilty of funding terrorist group Islamic State (IS) using bitcoin.
At only 28 years old
Chaudhary, who is only 28 years old, was found guilty by the jury of helping to fund the Islamic State by converting pounds into bitcoin and transferring it to the terrorist group.
The case was heard at Birmingham Crown Court and during the trial, Chaudhary repeatedly denied the accusations against him.
The authorities had discovered that the funds he transferred to Islamic State were used to free the IS supporters that were in Syria’s detention camps.
Chaudhary insisted that what he did was nothing but a humanitarian effort and not direct support for terrorist acts.
But the 28-year-old’s “humanitarian defense” was squashed by strong evidence presented by the prosecution.
One of the pieces of evidence presented in the court against Chaudhary is his a Jihad video, which clearly shows that his intentions were far from humanitarian reasons.
Chaudhary was arrested in 2019, and during the time of his arrest, the authorities have found IS propaganda materials in his possession.
The arrest was spearheaded by the Counter Terrorism Policing North East, which was headed by Detective Chief Supt. Martin Snowden.
After the trial, Chaudhary was found guilty of sharing terrorist publications and supporting terrorist activities through funding, not by conventional cash, but through bitcoin.
Image courtesy of Cointelegraph News/YouTube