As a researcher with a background in blockchain forensics and a strong interest in financial crimes and their impact on society, I find the use of crypto by neo-Nazi groups like the Nordic Resistance Movement (NRM) deeply concerning. The group’s reliance on crypto donations is a clear example of how these technologies can be exploited to circumvent traditional financial systems and support dangerous ideologies.
Investigators reporting on Sweden’s largest neo-Nazi organization have discovered that its backers used centralized cryptocurrency exchanges and mining pools for their donations, according to recent findings.
As a researcher, I’ve uncovered some disturbing information regarding the Nordic Resistance Movement (NRM), the largest neo-Nazi organization in Sweden, which has been designated as a terrorist group by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). Based on a report from Chainalysis, NRM received approximately $90,000 worth of cryptocurrency donations between 2015 and the present day.
A blockchain investigation company based in New York City has revealed that a neo-Nazi organization, founded in 1997, is notorious for propagating white supremacist and anti-Semitic ideologies. This group’s actions reportedly resulted in its ban in Finland during the year 2020 due to violations of the country’s legal regulations.
According to Chainalysis’ report, this organization turned to cryptocurrency donations as a viable alternative due to being prevented from opening regular bank accounts because of sanctions. Branches of the group situated in various European countries such as Norway, Denmark, and Finland accepted Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Tether (USDT), Cosmos (ATOM), Monero (XMR), Cardano (ADA), and other cryptocurrencies as donations.
Based on Chainalysis’ findings, I uncovered that certain addresses associated with the Nordic Resistance Movement received substantial donations, estimated to be worth “several thousand dollars,” not only from users of popular cryptocurrency exchanges but also from a specific mining pool. However, the particular platforms from which these transactions originated have yet to be determined in their report.
New information emerges as the world pays closer attention to the misuse of cryptocurrencies, with the United States imposing sanctions on Russian entities in their fintech sector in late March. OFAC, the US Treasury Department’s Office of Foreign Assets Control, targeted 13 entities and two individuals for providing services that aimed to bypass American sanctions.
The sanctions aim to block companies supporting Russia’s crucial financial infrastructure, limiting Russia’s ability to employ the international financial system to fund its conflict with Ukraine. Under Secretary of the Treasury for Terrorism and Financial Intelligence, Brian Nelson, emphasized that the goal is to restrict Russia’s options for discovering new payment methods to bypass sanctions.
Read More
Sorry. No data so far.
2024-06-17 15:20