One of the principal problems for the authorities is to discover who is fundings the terrorists, which are the channels used by the ISIL to transfer money to the cells operating in various European countries.

The experts of the Anti-terrorism group of ethical hackers, Ghost Security Group (GSG), speculate that members of the ISIL regularly uses cryptocurrencies to fund the operations of its cells.

To proof their thesis, the hackers of the Ghost Security Group have searched for Bitcoin wallets used by the ISIL organization, and finally they have discovered them.

Members of the Ghost Security Group have uncovered several Bitcoin addresses that might be used by the ISIL to fund its operations. They also made a disconcerting discovery, one of the wallets they have analyzed contains $3 Million in US dollars worth of Bitcoins.

“Yes, we did detect several indicators of an attack impending and are currently in the process of collecting valuable evidence for United States government officials. I cannot go into more detail at the moment on current investigations.” a member of Ghost Security Group explained in an interview with NewsBTC.

“The Islamic State does use cryptocurrencies as a form of income to fund their ongoing operations, and we have managed to uncover several Bitcoin addresses used by them,” “We had discovered a BtC address linked to a known Islamic State deep website approximately three months ago and provided it to dw.com. They hired a team of blockchain analysts to trace the cryptocurrency to the estimated 3 million in BtC the discovered.”

The Ghost Security Group has identified several websites used by the ISIL on the darkweb and gathered information about the amount of money contained in the wallets the addresses of which are present on these sites.

“Most of the Bitcoin funding sites utilized by the Islamic State are on the deep web and we have managed to uncover several and successfully shut them down in order to limit the funding extremists receive through the use of cryptocurrencies.” continues the Ghost Security Group.

Although there are no proofs that these wallets were used to fund the cells involved in the Paris attacks, the Ghost Security Group linked it to the ISIL organization demonstrating the use of cryptocurrencies.

The hackers Ghost Security Group believe that Bitcoin is their prime form of cryptocurrency for the ISIL, but they have no information regarding the mining abilities of the group. It is likely that the ISIL receives donations on a regular basis by its sympathizers.

Stay Tuned!

Pierluigi Paganini

(Security Affairs – ISIL, Paris Attacks)