A U.S. court has handed down a 30-year prison sentence to Mohammed Azharuddin Chhipa, who was found guilty of financing terrorism through cryptocurrency.
Federal prosecutors say Chhipa raised funds both online and in person before converting the money into digital assets and sending it overseas.
Between 2019 and 2022, he funneled more than $185,000 into crypto wallets linked to operatives in Turkey, with the funds ultimately used by ISIS affiliates in Syria. The money reportedly supported operations including prison breaks and logistical support for militant activities.
The jury convicted Chhipa on multiple counts, including conspiring to support a foreign terrorist group. Authorities described his actions as critical to sustaining terror networks, equating financiers with those who carry out attacks.
The case highlights renewed concerns over the misuse of digital assets in international crime. While lawmakers continue to press for tighter controls—especially those critical of crypto’s role in illicit finance—industry data from Chainalysis suggests that illegal activity accounts for under 1% of total crypto transactions.
A data breach at Coinbase has triggered serious concerns after attackers accessed private user details—including home addresses—by bribing outsourced customer support staff.
Just days after securing its place in the S&P 500, Coinbase is now under federal investigation following a major security breach that exposed the personal data of several high-profile users.
Vladimir Smerkis, a key figure behind the crypto-powered Telegram Mini App Blum, has been arrested in Moscow amid allegations of large-scale fraud, according to Russian media reports.
As wealth in the cryptocurrency sector continues to grow, so do the dangers facing its most prominent players.