Teen Charged with Terrorism Offenses for Crypto Fundraising for Al Qaeda

A 16-year-old boy from East London has been charged with multiple terrorism offenses, including fundraising for Al Qaeda using cryptocurrency.

Allegedly, he marketed his crypto and cybersecurity skills online to support terrorist groups like Al Qaeda and the Pakistani Taliban (TTP).

In a Westminster Magistrates Court hearing, the teen, who remains unnamed, pleaded not guilty to five charges, including terrorist fundraising and possession of materials useful to terrorists.

The case has been sent to the Old Bailey for further proceedings. He is accused of raising approximately $1,300 in crypto and has been released on bail with strict conditions, including a nighttime curfew and limited laptop use.

A Chainalysis report reveals that sanctioned groups increasingly utilize crypto for fundraising, with $24.2 billion in illicit transactions recorded in 2023.

This marks a decrease from the previous year, with significant links to terrorist organizations. The report also highlights the involvement of Tornado Cash and Garantex in facilitating illegal crypto activities.