ISIS Nigeria-Turkey Crypto Financing Entities (Nine to Nine, Manhattan Bureau, Generation Currency, Spider, Alkaram)
Summary
On June 22, 2026, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) designated five entities as nodes in an ISIS cryptocurrency financing network: three Nigerian bureaux de change (Nine to Nine Exchange Bureau de Change Limited, Manhattan Bureau de Change Limited, and Generation Currency Bureau de Change Limited), each owned and controlled by Mukhtar Adamu Muhammad, an alleged ISIS-West Africa financial facilitator based in Lagos; and two Turkey-based money service businesses (Spider Gayrimenkul Ve Genel Ticaret Limited Sirketi and Alkaram Danismanlik Gayrimenkul Ic Ve Dis Genel Ticaret Limited Sirketi), both owned and controlled by Mohamad Alhmidan, who was previously designated by OFAC in March 2016. These entities allegedly served as the cash-conversion and hawala infrastructure through which ISIS supporters across Europe, the Middle East, and Africa routed cryptocurrency to the Islamic State.
Connected Entities
3 entities · 10 linked investigations- TBXMiRqUp1XH1zLazWu8cWitMAScv4HsYq→mentioned with→ISIS Nigeria-Turkey Crypto Financing Entities (Nine to Nine, Manhattan Bureau, Generation Currency, Spider, Alkaram)(50%)
- TDFj8tYzfLDkwEMo4MJ2DfrbpMztuCCnan→mentioned with→ISIS Nigeria-Turkey Crypto Financing Entities (Nine to Nine, Manhattan Bureau, Generation Currency, Spider, Alkaram)(50%)
Connected Through
2 shared actors · 3 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- ◇TDFj8t…Cnanwallet
- ◇TBXMiR…HsYqwallet
Timeline(5 events)
2016-03-01
OFAC first designates Mohamad Alhmidan for facilitating logistical and financial support for ISIS, including supporting foreign terrorist fighters.
U.S. Department of the Treasury2020-01-01
Bitcoin Xchange, a Syria-based money service business linked to a separate node in the ISIS financing network, is established in late 2020 according to TRM Labs analysis.
TRM Labs2026-06-22
OFAC designates three individuals (Miloud Abderrahmane, Abdelhakim Boukich, Mukhtar Adamu Muhammad) and six entities (Nine to Nine Exchange Bureau de Change, Manhattan Bureau de Change, Generation Currency Bureau de Change, Spider, Alkaram, Bitcoin Xchange) under Executive Order 13224 for materially supporting ISIS. Two TRON wallet addresses linked to Abderrahmane are added to the SDN list.
U.S. Department of the Treasury2026-06-23
Nigerian press outlets report the physical addresses of the three Lagos-based bureaux de change disclosed by U.S. authorities.
P.M. News Nigeria2026-06-24
Chainalysis, TRM Labs, and multiple crypto and general news outlets publish analyses of the June 22 designations, detailing on-chain methodology used to identify ISIS-linked exchanger clusters.
Chainalysis / TRM LabsDecision Log
- hash: Dne7uiXJhV87hFPguMn5k1JPDDBeb6Ybucjbi7J6k73V
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 6/28/2026, 11:14:54 PM
last updated: 6/28/2026, 11:15:03 PM
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