Chainalysis Reveals HTS Received Crypto To Win Syrian Civil War
Hay’at Tahrir al-Sham (HTS) received increased cryptocurrency donations ahead of its defeat of Assad’s government in the Syrian civil war, Chainaanalysis claims in a new report.
Several warring factions have used or have close ties to the cryptocurrency industry, but HTS is a relative wildcard.
Cryptocurrency in the Syrian Civil War
Blockchain analysis Chainaanalysis published the findings in a report Report today. Essentially, it claims that HTS saw a significant increase in cryptocurrency donations on November 27, the day HTS began a new offensive in the Syrian civil war.
The donations continued as part of HTS’s blitzkrieg operation that quickly overthrew Assad’s government.
“A campaign received its first Donate In late October, a total of 7 donations were received as of the 27th, and more than 30 donations have been received since then. Another campaign, which started fundraising after the offensive began, also received more than 30 donations. “
Anonymous Cryptocurrency Donations This phenomenon has been a recurring feature of the Syrian civil war for years. Islamic State of Iraq and Syria (ISIS) Extensive efforts to solicit cryptocurrency donations before it was destroyed as a fighting force.
Such activity has even become a trope for anti-encryption legislative efforts, with U.S. Sen. Elizabeth Warren looks at it often.
However, although HTS has been involved in this cryptocurrency solicitation since at least 2021, its participation has been smaller. According to Chainaanalysis, HTS employed a sophisticated money laundering scheme, making it difficult to trace the exact amount of funds received.
Chainaanalysis also said that the group’s future involvement in the cryptocurrency space is unclear. It noted, for example, that Assad would be better positioned to enter the field.
His country has close economic ties with Russia and Iran, both have Show a strong interest in the field. Both countries also Cryptocurrency endorsed at recent BRICS summit.
However, HTS defeated Assad in the Syrian civil war and is highly unlikely to continue to have positive relations with both countries.
In short, Chainaanalysis research shows that further involvement of cryptocurrencies is questionable. Regional instability and currencies inflation May promote private use, Just like neighboring Lebanonbut cryptocurrencies are “unlikely to be HTS’s top priority.”
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