Which crypto blockchain is preferred by terrorist organisations?
euronews.comQuicker and cheaper than its larger rival Bitcoin, Tron has overtaken its rival as a platform for crypto transfers associated with groups designated as terror organisations by the EU, Israel, the US and other countries, according to a Reuters analysis.
The media outlet found out that crypto seizures announced by Israeli security services since 2021 reflect a sharp rise in the targeting of Tron wallets and a fall in Bitcoin wallet seizures.
"Earlier it was Bitcoin and now our data shows that these terrorist organizations tend to increasingly favor Tron," Mriganka Pattnaik, CEO of New York-based blockchain analysis firm Merkle Science, told Reuters, citing Tron's faster transaction times, low fees, and stability.
Israel's National Bureau for Counter Terror Financing (NBCTF), which is responsible for such seizures, froze 143 Tron wallets between July 2021 and October 2023 that it believed were connected to a "designated terrorist organization" or used for a "severe terror crime," the Reuters analysis found.
Following the attacks by Hamas on 7 October, killing around 1,200 people, Israel's subsequent bombardment and ground invasion of Gaza has killed some 14,000 people. In its response, Israel has also stepped up scrutiny of Hamas' financing.
Almost two-thirds of Israel's Tron seizures – 87 - were this year, including 39 wallets owned by Lebanon's Hezbollah, and 26 belonged to Hamas ally Palestinian Islamic Jihad, according to Israel.
The seizures have also included 56 Tron wallets linked to Hamas, the majority of which was connected to a single Gaza-based money exchange company called Dubai Co. For Exchange.
Weeks after the Hamas assault, Israel announced its biggest known seizure of crypto accounts yet, freezing around 600
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