A lot of people would remember that a series of bombings rocked a church in Sri Lanka last Sunday, for which the Islamic State (ISIS) claimed responsibility. Now it has emerged, that Bitcoin had a part to play, according to Israeli blockchain intelligence firm, Whitestream.The firm, in an exclusive conversation with news portal Globes, said that an investigation conducted by the former found that on the day before the Easter bombings in Sri Lanka, there were exceptionally large transfers in the bitcoin wallets that ISIS uses to raise contributions. Militant Islamic terror group ISIS took responsibility for last month’s Sri Lankan bombings, which claimed the lives of over 250 people.Apparently, the wallet addresses were traced to a Canada-based cryptocurrency exchange, Coinpayments. The cryptocurrency exchange specializes in changing bitcoin into regular currency. On April 20, the day before the Easter attacks, the balance in the main wallet of CoinPayments rose from just $500,000 to $4.5 million.Whitestream added that the next day, soon after the attacks took place, the account balance dropped right back to $500,000 which was the same as the average daily monthly balance during the previous nine months.The blockchain intelligence firm said, “In the past two years, ISIS has been running a mass funding campaign to raise donations in bitcoin. The aim of the campaign is to contribute to the organization’s technological division, which deals with the media, advertising and computer infrastructure sectors. The main efforts are carried out through a dedicated website. The domain address is frequently changed to prevent tracking by authorities around the world.”However, this is not the first time, ISIS and bitcoin have been linked. In November, a New York-based woman was arrested for supporting the banned and vanquished terror outfit ISIS and for scamming banks to provide monetary support in the form of cryptocurrencies.The 27 year old New York resident, had admitted to transferring over $150,000 to overseas bank accounts that are owned by people and entities related to ISIS in 2017. What’s more shocking is that she had travelled to countries like Jordan to provide medical help to Syrian refugees who had been injured by relentless ISIS attacks.Liked what you read? Join us on Telegram
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