Spanish Police Dismantle Crypto Network Financing ISIS
Spanish police have successfully dismantled a network involved in financing ISIS through cryptocurrency transactions. The operation, which took place over the weekend, resulted in the arrest of five individuals. The investigation, known as “MIYA,” was launched in 2021 by Spain’s National Police General Information Commissariat (CGI).
Collaboration with International Intelligence and Security Services
The Spanish national police received collaboration from intelligence and security services in twelve countries, including the US FBI, EUROPOL, and various agencies from North African countries. Within Spain, the CGI worked closely with provincial information brigades and the National Intelligence Center.
Uncovering an International Network Supporting DAESH
The initial phase of the operation revealed a person residing in Spain who was in contact with a jihadist seeking to carry out an attack in France on behalf of DAESH. This led to a joint operation with Swiss authorities, resulting in multiple arrests. Further investigation uncovered an international network supporting DAESH across multiple continents.
Funding Terrorist Operations with Crypto
The network allegedly obtained funds through criminal activities in Europe and used cryptocurrency to finance their terrorist operations. Authorities seized nearly 200,000 euros worth of digital assets during the operation.
Arrests and Foiled Attacks
Five individuals were arrested as a result of the investigation. The network was also involved in indoctrination and recruitment activities. Security services foiled at least two planned attacks.
Hot Take: Impact on Crypto Market
The recent arrests and dismantling of the crypto network financing ISIS have not had a significant impact on the cryptocurrency market. The total market capitalization currently stands at $1.525 trillion, reflecting a slight decline within the past 24 hours.
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