A 35-year-old man in South Africa has been arrested by law enforcement for allegedly using cryptocurrency to finance terrorist activities. The investigation was launched in May 2018 after authorities received information about suspicious transactions related to terror financing. The suspect allegedly purchased Bitcoin worth $614 through a virtual asset service provider and transferred the funds to an independent organization, which is believed to have used the money to support individuals in another country with weapons and financial aid. During a raid of the suspect's home, law enforcement found firearms that were not stored properly. South African authorities are working with local and international agencies to stop the flow of illicit funds that support organized crime and terrorism. The suspect is scheduled to appear in court on January 6th.



Other News from Today