JAKARTA ISIS is reportedly making NFTs and plans to sell their digital arts collections. Experts fear ISIS will use NFTs for money laundering to strengthen their organizations and acts of terror.
As reported by The Wall Street Journal, national security has warned of the possibility of ISIS disseminating their NFTs. Terrorist organizations can use blockchain technology to avoid sanctions and generate funds for their terrorist campaigns.
The ISIS NFT titled IS-NEWS #01 featured a statement praising Afghanistan-based Islamist militants for attacking the Taliban position alongside a photo of the ISIS symbol.
Launching NFT Now, co-founder of American research firm Jihadoscope, Raphael Gluck, is said to have found the NFT in question on ISIS support social media accounts. They also reportedly made two more NFTs on August 26. One of them featured an ISIS fighter instructing children about how to make explosives, while the other featured ISIS fighters smoking.
According to the report, this marks the first known example of a terrorist group creating and distributing NFTs. The case has raised concerns that the irreversible nature of blockchain technology could facilitate the spread of propaganda and terrorist messages.
This can hint that terrorist organizations are experimenting with cutting-edge technologies in an effort to identify new ways to convey their messages and raise funds.
NFT ISIS Sold at OpenSea and Rarible
The ISIS-owned NFT is reportedly sold in a number of leading NFT marketplaces such as OpenSea and Rarible. However, OpenSea and Rarible immediately took action and removed the ISIS NFT. In addition, the NFT marketplace also froze the terrorist organization's accounts.
OpenSea stated that the action was part of a firm zero tolerance policy for (accounts that) promote hatred and violence. While Rarible did the same with OpenSea.
The terrorist organization's NFT has the opportunity to be used to raise extremist funds. In addition, they also have the potential to launder money through the NFT market. However, even if it is removed from the NFT trading platform, IS-NEWS #01 will still be on the blockchain.
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