A 16-year-old boy from east London has been reportedly charged with terrorism-related offences for allegedly fundraising cryptocurrency on behalf of the terrorist group Al Qaeda.
During a court hearing at Westminster Magistrates’ Court on Wednesday, October 30, the teenager was accused of offering his expertise in digital currency and cybersecurity to assist the terrorist organization. The charges against him include terrorist fundraising, terror training, and possession of documents that may aid terrorists.
The prosecutors stated that the boy is alleged to have shown ideological support for Islamic terrorist groups, including Al Qaeda and Tehrik-i-Taliban Pakistan (TTP). They claimed he presented himself as an expert in cryptocurrency and cybersecurity to assist these groups. He reportedly raised around $1,300 worth of cryptocurrencies in the process.
The teenager, who cannot be identified due to his age, pled not guilty to all five charges.
The case has been transferred to the Central Criminal Court of England and Wales for a further hearing scheduled for November 2. The boy has been released on bail under several conditions, including a night-time curfew, a prohibition on using social media, and restrictions on laptop use, which is limited to educational purposes. He is, however, allowed to use his PlayStation, but not for online gaming or communication with others.
This incident highlights the growing concern over the use of cryptocurrency in terrorist financing, as well as the threat of radicalization among young individuals.
In a separate development, Austria recently concluded its largest-ever fraud trial, focusing on a €20 million crypto Ponzi scheme. The 60-day trial resulted in five convictions out of eleven suspects from Austria, Croatia, and Italy, with the main defendants receiving five-year sentences without parole and others receiving suspended sentences.
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