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Concerns have been raised that the immutable properties of blockchain technology could aid the dissemination of terrorist messages and propaganda after the first instance of a nonfungible token (NFT) generated and disseminated by a "terrorist sympathizer" was revealed.
The NFT may be an indication that the Islamic State and other terrorist organizations are also using blockchain technology to evade sanctions and raise money for their terrorist activities, according to a Sept. 4 article in The Wall Street Journal (WSJ) by intelligence experts.
Raphael Gluck, co-founder of the American research company Jihadoscope, purportedly located the aforementioned NFT by using pro-ISIS social media accounts.
The digital token, known as "IS-NEWS #01," is reportedly an image with the Islamic State's logo and text applauding Afghan-based Islamic militants for hitting a Taliban position.
Former federal intelligence specialist Mario Cosby, who now focuses on blockchain-based currencies, claimed that the user made two additional NFTs on August 26; one of them showed an Islamic State soldier instructing trainees on how to construct explosives, and the other was critical of smoking.
According to the analysts, this might be an indication that terrorist organizations are experimenting with new funding methods and disseminating their message via cutting-edge technology.
It's a big experiment to figure out how to make content unbreakable, according to Gluck.
According to reports, the digital token was listed on NFT exchange OpenSea, but the business swiftly removed the listing and terminated the account of the poster, claiming a "zero-tolerance policy on promoting hate and violence."
Prior to being pulled down, the trio of NFTs was reportedly also accessible on Rarible and other NFT marketplaces.
Although it doesn't appear that any of the NFTs have been exchanged, Cosby claims that their existence is concerning since "it's as censorship-proof as you can get," adding:
“There’s not really anything anyone can do to actually take this NFT down.”
Security professionals have already voiced their concerns about the future possibility of terrorists using developing markets and technologies, like as NFTs, to fund attacks.
The U.S. Treasury Department published a study in February that highlighted the expansion of the NFT sector as a possible source of worry.
A collection of 30 cryptocurrency wallets were confiscated by Israeli officials in March from 12 exchange accounts connected to the Gaza-based militant organization Hamas.
While cryptocurrency has been mentioned in several cases of terrorism financing, according to Matthew Levitt, director of the Jeanette and Eli Reinhard Program on Counterterrorism and Intelligence at The Washington Institute for Near East Policy, "it has not yet become a primary means of financing terrorism," he told Cointelegraph in April of last year.
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