GAROWE, Puntland — Puntland authorities say the Islamic State (ISIS) has been using cryptocurrency to finance its terror network, primarily in Africa, but with the potential to operate globally.
Abdirahman Dhabancad, Puntland’s representative for political affairs and international relations, told Sky News that the regional government has “credible evidence” of the extremist group’s use of digital currencies.
“This is a significant development in the fight against terrorism,” Dhabancad said, warning that cryptocurrencies make it harder for governments to track funding and disrupt operations.
ISIS-Somalia has been linked to high-profile international attacks, including the Kabul airport bombing on August 26, 2021, which killed 11 US Marines, a Navy corpsman, and at least 90 Afghan civilians.
Security experts say cryptocurrency’s anonymity and global reach make it an attractive tool for extremist networks. Puntland officials said they are coordinating with international partners to monitor and disrupt these financial channels.
Nevertheless, the announcement highlights the growing use of digital technology by extremist groups to finance attacks and underscores the challenges facing governments worldwide.
