The post TRON Appears at Center of Militant Financing in Israel-Hamas War appeared on BitcoinEthereumNews.com.

Israeli security agencies note that the Tron network has become the preferred platform for crypto transfers by militant groups linked to Palestine, Hamas, etc. In Israel’s ongoing battle against the financing of Iran-backed militant groups such as Hamas and Hezbollah, a previously less scrutinized crypto network Tron has emerged as a significant player. Surpassing Bitcoin in terms of transaction speed and cost-effectiveness, the Tron network has become the preferred platform for crypto transfers associated with organizations designated as terror groups by Israel, the United States, and other nations. Interviews with financial crime experts and blockchain investigations specialists, coupled with an analysis of Israeli security services’ crypto seizures since 2021, highlight a noticeable shift toward targeting Tron wallets. On the other hand, Bitcoin wallet seizures have declined. Mriganka Pattnaik, CEO of the New York-based blockchain analysis firm Merkle Science, notes that this trend is influenced by Tron’s faster transaction times, lower fees, and overall stability. Merkle Science reports that it serves as a provider for law enforcement agencies in the United States, Britain, and Singapore. During the period from July 2021 to October 2023, Israel’s National Bureau for Counter-Terror Financing (NBCTF), the entity responsible for asset seizures, identified and froze 143 Tron wallets. These wallets were most likely associated with a “designated terrorist organization” or utilized in connection with a “severe terror crime”, according to the analysis conducted by Reuters. Tron Wallets Linked to Hamas The attacks on October 7 by Hamas resulted in the death of approximately 1,200 people in Israel. Subsequently, Israel’s bombardment and ground invasion of Gaza led to the death of around 14,000 people. In response, Israel has intensified its scrutiny of Hamas’ financing. Hayward Wong, a spokesperson for Tron, a British Virgin Islands-registered entity, emphasized these of all technologies, including Tron, for questionable activities, drawing a…

---

Filed under: News - @ November 27, 2023 4:14 pm