Initial ADL research show a sample of 15 white supremacists, antisemites and their supporters moved thousands of dollars using cryptocurrency exchanges, many of which lack explicit anti-hate and extremism policies. A sample group of white supremacists, antisemites and their supporters used mainstream cryptocurrency exchanges to move $142,546 worth of cryptocurrency in 2023, according to a new study from the ADL (Anti-Defamation League) Center on Extremism. Researchers tracked a sample group of 15 extremist organizations and individuals, as well as their supporters, as they used 22 different cryptocurrency service providers to traffic funds, including mainstream platforms like Coinbase and Binance. As of December 1, 2023, none of the service providers examined in this report have explicit counter-extremism policies. Though some have anti-hate policies, only one exchange in this report explicitly prohibits the funding of hate or extremism. The 15 extremist entities were chosen because they satisfy one (or more) of the following criteria: they pose a significant threat to the public, are considered influential within the current extremist landscape and/or moved significant funds through various Virtual Asset Service Providers (VASPs). ADL will be reaching out to each of the companies mentioned in the report to notify them of the findings and our recommendations. Cryptocurrency has emerged as a safe haven for extremist fundraisers and is an attractive option due to its perceived resilience to deplatforming, its pseudonymous nature and separation from the so-called “Jewish-controlled” financial system. “At a time when antisemitic and other hateful incidents are at an all-time high, it is more important than ever to identify and disrupt the funding underpinning hateful actors and their bigotry,” said Jonathan Greenblatt, ADL CEO. “The surge in hate demands not just awareness but uncompromising action to dismantle the financial infrastructure that fuels extremist agendas.” The ADL Center on Extremism uses open-source intelligence (OSINT) methods to monitor hundreds of extremists and associated individuals. In 2023, COE researchers recorded thousands of cryptocurrency wallet addresses used by hundreds of entities. To ensure accurate reporting, the sample was further limited to extremists that transacted directly with VASPs. “As extremists continue to find new platforms and methods to raise and move money, providers have a responsibility to vigilantly moderate their platforms to prevent them from being used by those who promote hate and violence,” said Oren Segal, ADL Center on Extremism VP. “Cryptocurrency exchanges must enact responsible terms of service or risk becoming a black market for extremists.”

via adl: Extremists Trafficked Tens of Thousands of Dollars through Cryptocurrency Exchanges in 2023