Bitcoin Xchange (Syria-based, ISIS-Linked)
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anchored·5ufXtH…nvAqSummary
Bitcoin Xchange is a Syria-based money services business established in late 2020 and controlled by Abdelhakim Boukich, a former Dutch national operating from Syria. On June 22, 2026, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) formally designated the entity under Executive Order 13224 for materially supporting ISIS by facilitating cryptocurrency-to-cash conversions on behalf of ISIS associates across multiple countries. On-chain analysis by TRM Labs attributed approximately USD 10 million in total transaction volume to addresses linked to Bitcoin Xchange, with hundreds of transactions connected to ISIS-linked fundraising campaigns.
Connected Entities
7 entities · 60 linked investigations- Abdelhakim Boukich→mentioned with→Bitcoin(70%)
- Bitcoin Xchange (Syria-based, ISIS-Linked)→mentioned with→Bitcoin(70%)
- Abdelhakim Boukich→mentioned with→TRON(60%)
- Bitcoin Xchange (Syria-based, ISIS-Linked)→mentioned with→Tether(65%)
- Miloud Abderrahmane (ISIS TRON Facilitator, France)→mentioned with→Bitcoin(70%)
- Mukhtar Adamu Muhammad (ISIS-WA Nigeria Crypto Facilitator)→mentioned with→Bitcoin(70%)
- Miloud Abderrahmane (ISIS TRON Facilitator, France)→mentioned with→TRON(70%)
- Tether→mentioned with→Bitcoin(60%)
- Abdelhakim Boukich→mentioned with→Bitcoin Xchange (Syria-based, ISIS-Linked)(80%)
- Abdelhakim Boukich→mentioned with→Mukhtar Adamu Muhammad (ISIS-WA Nigeria Crypto Facilitator)(80%)
- + 11 more
Connected Through
7 shared actors · 525 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- ♦Bitcointoken
- □Tetherorganization
- □TRONorganization
- □Mukhtar Adamu Muhammad (ISIS-WA Nigeria Crypto Facilitator)organizationalso in
1 submission awaiting moderator review.
Timeline(6 events)
December 2018
A predecessor Syria/Idlib-based entity called BitcoinTransfer begins processing Bitcoin transactions later linked to terrorism financing; over USD 280,000 passes through it. Organizational connection to Bitcoin Xchange is not established.
Combating Terrorism Center at West PointDecember 2020
Bitcoin Xchange established in late 2020 by Abdelhakim Boukich and Syria-based associates, operating as a money services business in Idlib Governorate.
U.S. Department of the Treasury press releaseOctober 2025
ISIS-affiliated organizations announce receiving Tether donations for detainees at al-Hol and Roj camps, promoting a centralized fund system; broader network in which Bitcoin Xchange operates continues activity.
MEMRI Cyber and Jihad LabFebruary 2026
ISIS-linked Bitcoin campaigns raise approximately USD 7,400 for detainee relocation operations channeled through Syria-based exchanger network.
MEMRI Cyber and Jihad LabApril 2026
ISIS-affiliated fundraisers instruct donors to use Tron USDT (TRC20) wallets explicitly to avoid blockchain surveillance; Syria-based exchanges continue operating as cash-out layer.
MEMRI Cyber and Jihad Lab22 June 2026
OFAC designates Bitcoin Xchange (formally 'BITCOIN EXCHANGE AGENT IDLIB'S NO.1 COIN EXCHANGE') and its controller Abdelhakim Boukich under Executive Order 13224 for materially supporting ISIS. Five additional entities across Turkey and Nigeria and two other individuals are designated in the same action.
U.S. Department of the Treasury / OFACDecision Log
- slot 457586994 · hash 7AXqN5rc1mWnAQ9DNLg4qA6eLPo1VfJKh1pEBWh73xPX
- slot 443504928 · hash AcAtvrQj2QMiTAM25NBKZY8e2Jxyyh1TjvtFujTSU3La
- slot 443504924 · hash Be5jyAVutEzzotsq2RMYasWf76nuLEwGeML4FBEyzx4f
- slot 429062481 · hash 9vNfLWGTSarHmLnidoMLgzrLHDxvo5KmepcVigvXRvyS
This investigation is cryptographically anchored to the Solana blockchain (4 decisions). 10 of 11 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 6/26/2026, 5:04:15 PM
last updated: 6/26/2026, 5:04:15 PM
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