Had bitcoin been used for terror funding? Yes it was! Last year a Pakistani-American woman was arrested in US for illegally purchasing bitcoin and sending it to various other countries including Pakistan. The woman named Zoobia Shahnaz was helping ISIS by funding them by sending Bitcoins. Now she has many cases on her like fraud and illegal money transfer etc. because she also did some bank fraud through credit cards to illegally buy the bitcoins online.
According to the official papers she did many wire transfers to Pakistan, China, and Turkey amid to help ISIS.
She was detained at airport only when she was trying to fly for Istanbul,to the common point for people who want to be the part of ISIS.
Her lawyer stated that the money was sent to support Syrian refugees, wow..what a beautiful rubbish statement!
Though, this is very common that how terrorist designed websites that are demanding donations in cryptocurrencies, specially in bitcoin, thanks for its too easy to transfer feature.
So the question arises that what should be the measures to avoid the misuse of this sophisticated technology? Is this easy to use and transfer technology is a gift to human being or a curse?
Did bitcoin or cryptocurrency developers ever think about that? Yes off course, this I know that since its not a common currency and instead a technology, than definitely we can do it something to avoid its misuse, but when and what?
Please Answer and Keep Steeming Friends!