Bitcoin’s Unsurprising Method for Convoy Organizers: Expert

OTTAWA – An anti-money laundering expert says trying to block funds from flowing to protesters blocking Parliament Hill and several border crossings is like playing a game of moles.

Matthew McGuire says the order recently approved by an Ontario court to freeze the millions raised via GiveSendGo will be effective at least temporarily in preventing those funds from flowing into the hands of organizers.

However, he says nothing can prevent another campaign from springing up, which would present the same challenge for governments and police.

So far, about $8.8 million has been raised through a campaign page on GiveSendGo, a Christian fundraising platform, and more than $700,000 has been donated through another page on the website.

The campaigns were quickly staged last week after GoFundMe canceled a previous fundraiser that raised more than $10 million, after the website determined the protest in Ottawa had turned into an “occupation “.

McGuire says it’s no wonder convoy organizers are turning to cryptocurrency like Bitcoin to generate funds because it’s decentralized.

Prime Minister Justin Trudeau says he spoke this morning with US President Joe Biden about the influence of foreign money in funding this “illegal activity”.

This report from The Canadian Press was first published on February 11, 2022.

Source link

About Donald P. Hooten

Check Also

Distributed deep learning method without sharing sensitive data

Data sharing is one of the major challenges of machine learning models. The advent of …