In Israel’s ongoing efforts to combat the financing of Iran-backed militant groups like Hamas and Hezbollah, a new battleground has emerged: the world of cryptocurrency, specifically involving a rapidly growing network called Tron.
Tron, a digital currency platform, has outpaced its larger counterpart, Bitcoin, as the preferred platform for crypto transactions linked to organizations classified as terrorist entities by Israel, the United States, and other nations. This information comes from discussions with seven experts in financial crime and specialists in blockchain investigations.
To put it simply, recent data analysis of crypto seizures by Israeli security services since 2021 reveals a notable shift. Tron wallets are now being targeted more frequently, marking a departure from the previous focus on seizing Bitcoin wallets.
According to Mriganka Pattnaik, the CEO of Merkle Science, a New York-based blockchain analysis firm, terrorist organizations are increasingly favoring Tron over Bitcoin. This preference is attributed to Tron’s advantages, such as faster transaction times, lower fees, and greater stability compared to Bitcoin.
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