Argentina Freezes Crypto Wallets Related To Terrorist Financing

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The Argentine Financial Information Unit (UIF) has decided to freeze several cryptocurrency wallets related to funding foreign terrorist attacks. Authorities are focusing on these actions on Syrian terrorist groups known as Hay’et Tahrir Al-Sham and two suspects.

Argentina issues management freeze on cryptocurrency wallets suspected of terrorist financing

Argentina is currently working on using cryptocurrency funds to fund terrorist attacks. The Financial Information Unit (UIF), an Argentine money laundering and counterterrorism watchdog, has detected the use of a national cryptocurrency exchange that could be linked to Hayette Tahariasham (HTS), a Syrian terrorist group that ties with al-Qaeda.

The survey shows that two individuals (a Russian citizen living in Argentina and another foreign foreigner identified by the US Treasury Department and the Israeli National Terrorfinance Agency (NBCTF)) can work with the group.

Hay’et Tahrir Al-Sham (HTS) was recently designated as a foreign terrorist organization (FTO) that was revoked by the US State Department. Nevertheless, this group is still recognized as a terrorist organization by international anti-terrorist groups.

There is no indication that these funds will be used to carry out terrorist acts in Argentina, but countries are required to act by the Financial Action Task Force (FATF) when there is a risk of international terrorist financing.

This measure was proposed by the UIF. The UIF received hints from two sources, one local and one international, and notified federal judges who verified the Crypto Fund’s management freeze.

A local source linked to the action said, “The first step is to freeze all wallets and fund the moves he has made or attempted to, and from now on, other measures will be strengthened by judicial system intervention.”

These same sources also revealed that the chain of transactions for these funds has addresses that may have connections with other illegal organizations without providing additional details on the subject.