The Syrian civil war has revealed an unexpected new use of crypto in armed conflict, with increasingly close links between modern financial technologies and geopolitical issues. A recent investigation by blockchain analysis firm Chainalysis sheds light on the involvement of the rebel group Hay’at Tahrir al-Sham (HTS), which allegedly used crypto donations to finance a decisive offensive against the Bashar al-Assad regime. These anonymous transactions, which have become common in conflict zones, raise questions about the place of these assets in crisis contexts and the risks they generate.
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