The Nigerian terrorist organization Boko Haram uses cryptocurrency for cross-border financing

ChainCatcher news, according to News.Bitcoin, the Nigerian terrorist organization Boko Haram is increasingly relying on cryptocurrency, mobile payments, and other digital tools to fund its activities, obtaining millions through ransom, looting, and forced "zakat" donations. Experts refer to these digital financing methods as a "blind spot" in the fight against terrorism. Nigeria's vast and largely unregulated cryptocurrency market, driven by economic demand, inadvertently facilitates this threat.

Experts like Oge Samuel Okonkwo point out that Boko Haram utilizes the decentralized nature of cryptocurrency for low-cost operations, including arms procurement, and benefits from the massive daily digital transactions in Nigeria. The organization's cross-border activities have also been enhanced by the convenient digital transfer characteristics of cryptocurrency.