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ISIS used bitcoin for funding

ISIS allegedly sponsored the deadly Sri Lanka Easter bombings with Bitcoin donations.

The April 21 attacks on hotels and churches in Sri Lanka killed more than 250 people, including 40 foreign nationals, the UK based newspaper reported.

Now a blockchain intelligence company called Whitestream has said ISIS used the CoinPayments stage to change cryptocurrency into dollars just before the attacks.

The Israeli intelligence startup told Globes that Bitcoin’s secrecy and unverified international money transfers make it ideal for use by terrorist groups.

During a search, Whitestream learnt the Bitcoin balance held by CoinPayments amplified by hundreds of percent on April 20.

The balance of the main wallet increased from £383,000 [$500,000] to £3.45 million [$4.5m] on April 20.

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