Nigeria terrorist organization Boko Haram uses cryptocurrency for cross-border financing
Online reports, News.Bitcoin reports that the Nigeria terrorist organization Boko Haram is increasingly relying on cryptocurrency, mobile payments and other digital tools to fund its activities, earning millions of funds through ransoms, plunder and forced "zakat" donations. Experts call these digital financing methods "blind spots" in the fight against terrorism. Nigeria's large and largely unregulated crypto market, driven by economic needs, inadvertently facilitates this threat. Experts such as Oge Samuel Okonkwo point out that Boko Haram uses the decentralized nature of cryptocurrency for low-cost operations, including weapons procurement, and benefits from the massive daily digital transactions in Nigeria. The organization's cross-border activities have also been enhanced by the convenient digital transfer characteristics of cryptocurrencies.
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