BasEx | Terrorist Groups Switch to Tron Over Bitcoin
Reuters: Terrorist Groups Shift to Tron Over Bitcoin
Reuters: Terrorist Groups Shift to Tron Over Bitcoin

Iran-backed militant groups are shifting from Bitcoin to Tron to fund their operations, reports Reuters, citing blockchain transaction analysis experts.

Tron's network is faster and cheaper than Bitcoin. Moreover, the growing number of Tron wallets seized by Israeli security services indicates its rising interest.

From July 2021 to October 2023, NBCTF froze 143 Tron wallets, presumably linked to "a certain terrorist organization" or used for "serious terrorist crimes".

These included addresses belonging to Lebanon's Hezbollah, Palestinian Islamic Jihad, and HAMAS. Additionally, some were connected to the Gaza-based exchange, Dubai Co. For Exchange.

Following a HAMAS attack, Israel announced the largest-ever cryptocurrency confiscation, freezing about 600 accounts linked to Dubai Co., without specifying the exact crypto networks or coins used.

More than a dozen people, whose funds were frozen in this operation, told Reuters they used Tron for personal, non-terrorism-related crypto trading. Only one individual, identifying himself as Neo, speculated he once transferred money to "someone associated with HAMAS".

Nevertheless, Reuters could not independently verify the militants' use of Tron.

Tron representative Hayward Wong commented to the agency that the company does not control individuals using its technology and is not associated with terrorist groups. He also reminded that all financial instruments "can theoretically be used for dubious activities".

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