PANews reported on January 5 that according to News.bitcoin, a 35-year-old man was recently arrested by a law enforcement agency in South Africa for allegedly using cryptocurrency to finance terrorist activities. The investigation was launched in May 2018 when the Financial Intelligence Centre (FIC) and the investigation team received information about suspicious transactions related to terrorism financing. It is alleged that on November 30, 2017, the suspect purchased Bit worth $614 through the virtual asset service provider Luno, and transferred the funds from the suspect's bank account to Luno's custodial account, after which these Bits were transferred to another wallet associated with an unnamed "independent" organization. The South African law enforcement authorities stated that the preliminary investigation showed that these funds were transferred to provide weapons, financial assistance, and other projects to "participants" in another country. After determining the purpose of the funds, the South African law enforcement authorities executed a search warrant and raided the suspect's residence on October 24, seizing several items, including firearms that were not stored in a secure place as required by law. The man is expected to appear in the Lichtenburg Magistrate's Court on January 6.
