How Bitcoin Rescued WikiLeaks from Financial Collapse
The post How Bitcoin Rescued WikiLeaks from Financial Collapse appeared first on Coinpedia Fintech News
In 2010, WikiLeaks shook the world by releasing the Afghanistan and Iraq War Logs, revealing shocking truths about these conflicts. This act of transparency led to a fierce onslaught from the US government. However, Bitcoin was crucial in ensuring WikiLeak’s survival amidst relentless attacks.
Read on to know how Bitcoin saved WikiLeaks!
WikiLeaks’ Groundbreaking Leaks
The release of the Iraq and Afghanistan war logs, featuring the harrowing ‘Collateral Murder’ video, catapulted WikiLeaks to global prominence. But, the exposure brough intense scrutiny and marked the start of 15 years of retaliatory actions against WikiLeaks and its founder, Julian Assange.
Tech and Financial Censorship on WikiLeaks
In late 2010, WikiLeaks faced severe attacks aiming to shut it down. A denial-of-service attack forced the website to move from Swedish servers to Amazon’s servers in the US. However, pressure from US congressional staffers led Amazon to shut down the site. Soon after, the domain service was suspended, further crippling WikiLeaks’ online presence.
The US government also targeted WikiLeaks’ finances. Paypal, Visa, MasterCard, Bank of America, and Western Union all ceased processing WikiLeaks donations, and Switzerland’s PostFinance shut down Assange’s personal account. This financial blockade slashed WikiLeaks’ revenue by 95%, bringing it to the brink of collapse.
The Bitcoin Solution to WikiLeaks’ Finance Issue
As WikiLeaks struggled financially, early Bitcoin enthusiasts suggested using the cryptocurrency to bypass traditional financial systems. Although Bitcoin’s creator Satoshi Nakamoto initially opposed the idea, fearing unwanted attention, WikiLeaks began accepting Bitcoin donations in June 2011. This decision proved vital, bringing in over 4,000 BTC, worth $244 million today.
By adopting Bitcoin, WikiLeaks secured a way to receive funds without censorship. This shift not only saved the organization from financial ruin but also showcased the power of decentralized finance in defending against unjust financial blockades by governments.
In conclusion, Bitcoin’s intervention was pivotal in saving WikiLeaks from financial destruction. By providing a censorship-resistant funding source, Bitcoin helped WikiLeaks continue its mission of transparency and free speech despite immense pressure and attacks.
WikiLeaks founder Julian Assange has finally arrived in Australia after being freed by a U.S. court. Assange pleaded guilty to espionage charges and was sentenced to time served, allowing him to return home.
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