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- An X user alleged the existence of contradictions in Chainalysis’ assessment of the crypto terrorism financing narrative.
- Chainalysis’ Head of Sanctions Strategy noted that crypto is not a suitable medium for terrorists to move funds.
- Chinalysis representative stated the previous $450k figure did not constitute a comprehensive assessment of crypto funds related to any terrorism financing.
Recently, X user “Cryptadamist,” with a notable following on the platform, highlighted alleged contradictions regarding the value of crypto funds in terrorism financing, which blockchain analysis firm Chainalysis had earlier reported.
The X user first recalled when Bitcoin maximalist Nic Carter and other notable figures in the crypto community emphatically asserted that Chainalysis had proved the existence of a mere $450,000 in terrorist financing.
According to Cryptadamist, the analysis firm itself is currently disputing the $450,000. The critic arrived at the claim following a recent podcast featuring the Head of Sanctions Strategy at Chainalysis, Andrew Fierman.
remember when Nic Carter & the rest of the clown car was ranting about how #Chainalysis "proved" there was just $450k in terrorist financing?so why is #Chainalysis on @laurashin's show (correctly) disowning that "research"?https://t.co/jtPduXFxQc— ⚯ M Cryptadamus ⚯ | @cryptadamist@universeodon.com (@Cryptadamist) November 15, 2023
In the podcast, the host, Laura Shin, asked Fierman to elaborate on Chainalysis research that corrected the claims that terrorists received multi-million dollars in crypto to fund their activities. Part of Fierman’s response was that crypto is not a suitable medium for terrorists to move funds.
Fierman highlighted that the bad actors understood that all crypto transactions are traceable to the last recipient. As a result, they ordinarily would seek to avoid being tracked, as the public could tell the entities they collaborate with.
In response to an inquiry about how Chainalysis arrived at $450,000, Fierman clarified that the amount was an illustrative example tied explicitly to a seizure order. He mentioned that Chainalysis tracked the movement of funds from that associated wallet to other entities.
Furthermore, the Chainalysis representative mentioned that the example did not constitute a comprehensive assessment of how much crypto Hamas or any other entity had received.
The post Critic: Chainalysis Backtracks Previous Claims of $450K Terrorism Funding appeared first on Coin Edition.