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Bitcoin Payments Worth $500,000 Made to Far-right Individuals Before US Capitol Attack: Report

Representative illustration of Bitcoin, one of the most lucrative and riskiest way to shore up your money today. (Image: Getty Images)

Representative illustration of Bitcoin, one of the most lucrative and riskiest way to shore up your money today. (Image: Getty Images)

The biggest beneficiary, according to the report, is Nick Fuentes who was earlier suspended from YouTube for hate speech. Fuentes received about 250,000 Us dollars making him the biggest beneficiary of the donation.

Payments in bitcoin worth more than 500,000 US dollars were made to 22 different virtual wallets, belonging to far-right activists and internet personalities, before the US capitol rioting incident, cryptocurrency compliance startup Chainalysis said on Friday.

The payments made by a French donor of 28.15 bitcoins were made on December 8, Chinalysis said in a blog post.

According to the New York-based startup specialising in countering money laundering and fraud in the digital currency space, many alt-right groups and personalities received the bitcoin donations as part of single transaction.

"We have also gathered evidence that strongly suggests the donor was a now-deceased computer programmer based in France," Chainalysis report reads.

The biggest beneficiary, according to the report, is Nick Fuentes who was earlier suspended from YouTube for hate speech. Fuentes received about 250,000 Us dollars making him the biggest beneficiary of the donation.

Last week, thousands of angry supporters of outgoing President Donald Trump stormed the US Capitol and clashed with police, resulting in multiple injuries and forcing a delay in the constitutional process to affirm Joe Biden's victory in the November presidential election.

The police, outnumbered by the protesters, had a tough time in managing the crowd, as hundreds of protesters made their way into the US Capitol, where members of the US Congress were going through the process of counting and certifying the Electoral College votes. Both the House and Senate and the entire Capitol were placed under a lockdown.

first published:January 15, 2021, 10:25 IST