Chainalysis, a crypto analytics firm, has cautioned against overestimating the usage of cryptocurrencies by terrorist groups and identified flaws in recent reports.
Chainalysis, a crypto analytics firm, has No Follow against overestimating the usage of cryptocurrencies by terrorist groups and identified flaws in recent reports. Sen. Elizabeth Warren and more than a hundred other legislators demanded answers from President Joe Biden's administration on Wednesday, citing a Wall Street Journal report regarding Hamas' alleged use of crypto.
Chainalysis emphasized that terrorism financing constitutes a very small portion of illicit cryptocurrency transaction volume. The firm also addressed estimates surrounding recent political crisis in the Middle East, stating that only a small portion of the $82 million processed by the suspected service provider could be linked to such financing, cautioning against assuming all transaction activity is related to terrorism.
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