OFAC Sanctions ISIS Financial Network Involving Bitcoin Xchange and TRON Wallets
On June 22, 2026, the U.S. Treasury's OFAC designated three individuals and six entities for facilitating financial transactions on behalf of ISIS. The action targets Bitcoin Xchange, a Syria-based money services business established by Abdelhakim Boukich, a former Dutch national, which transferred funds for ISIS associates from multiple countries including the U.S., Norway, and Belgium. Also sanctioned are Turkish MSBs Spider and Alkaram, owned by previously designated Mohamad Alhmidan, and three Nigerian MSBs owned by Mukhtar Adamu Muhammad. OFAC identified two TRON wallet addresses linked to French national Miloud Abderrahmane, who provided explosives training to ISIS supporters. This enforcement highlights the use of cryptocurrency in terrorist financing and imposes compliance obligations on global VASPs and financial institutions to screen and block transactions involving these entities, with secondary sanctions risks for non-compliance.
Key facts
- OFAC designated three individuals and six entities for ISIS financial facilitation.
- Bitcoin Xchange, a Syria-based MSB, transferred funds for ISIS from multiple countries.
- Two TRON wallet addresses linked to French ISIS facilitator Miloud Abderrahmane were identified.
- Sanctions include Turkish and Nigerian MSBs, with secondary sanctions risks.
- Global VASPs must update screening and monitoring protocols immediately.