And They Say Cryptocurrency Doesn't Have A Practical Use...New York Woman Allegedly Converts Stolen $85,000 To BitCoin And Sends To ISIS

(CENTRAL ISLIP, N.Y.) — A Long Island woman is accused of laundering bitcoin and other cryptocurrencies and wiring the money overseas to help the Islamic State group, according to federal prosecutors.

Zoobia Shahnaz, a 27-year-old Pakistani-born resident of Brentwood, was being held without bail following her Thursday arraignment on charges of bank fraud, conspiracy to commit money laundering and money laundering, prosecutors said.

The former lab technician worked in Manhattan and had no known criminal history, according to prosecutors who said that beginning in March she fraudulently obtained more than $85,000 through a bank loan and credit cards to buy bitcoin and other cryptocurrencies online.

Lot of people might see this as a negative for crypto.  All the Bitcoin haters coming out of the woodwork to decry the digital currency.   It’s a bubble!   It doesn’t mean anything!  It’s not real!  It’s used to fund Islamic State terrorist operations across the globe!

I’ll admit, hand up – funding ISIS is a bad look.  ISIS is hard, some would say impossible to defend.  They’re bad dudes plain and simple, no way around it.   Last thing in the world I want is an abstract, hard to trace form of money being laundered and funneled to their atrocious stone age way of thinking.   So fuck you Zoobia Shahnaz, allegedly.   Fuck you and fuck your terrorist friends.   Some of us are trying to get rich over here on “money” we don’t actually understand and your anti BTC PR campaign of terror is trying to do what futures couldn’t do and decimate the markets.

Spin zone – at least crypto has a practical use?