Reuters claimed terrorists are refocusing on crypto transfers on the Tron network

Reuters claimed terrorists are refocusing on crypto transfers on the Tron network

67
Author: Robert Strickland (crypto-journalist)
Subscribe

 

Reuters claimed terrorists are refocusing on crypto transfers on the Tron network

Reuters: terrorists are increasingly using the Tron blockchain


 

Israeli law enforcement authorities, whose data was cited by the agency, declined to comment on how they collected statistics on the use of the Tron network for illegal purposes and how frozen wallets were linked to terrorists

 

According to Reuters, financial crime experts suggest that terrorist organizations are increasingly utilizing the Tron blockchain for their transactions. The Tron network, known for its faster and more cost-effective transactions compared to the Bitcoin network, has reportedly become popular among such groups.

Citing data from Israeli law enforcement authorities, Reuters analysts reported that between July 2021 and October 2023, 143 wallets on the Tron network were frozen. These wallets were believed to be associated with terrorist organizations or used in serious terrorist activities.

Mriganka Pattnaik, the CEO of Merkle Science, a New York-based blockchain analytics firm, stated, "While terrorist organizations have used the Bitcoin network in the past, our data shows that they are increasingly favoring Tron."

Tron's spokesperson, Heyward Wong, responded to the allegations by stating that any technology could theoretically be used for questionable activities, citing the example of U.S. dollars being used for money laundering.

Individuals whose funds were frozen and who claimed to use blockchain for personal purposes denied any connection to Hamas. However, Israeli law enforcement authorities reportedly declined to provide details on how they collected statistics on Tron network usage for illegal purposes and the methodology for linking frozen wallets to terrorist groups.

It's important to note that Reuters did not provide specific details on the nature of the terrorist activities or the evidence linking the frozen wallets to terrorist organizations.

 

Other news

Bitcoin is growing without mass hype. When everyone starts talking about cryptocurrency
Traders in options are betting on Bitcoin to rise above $65,000.
How Bitcoin Halving Will Affect Its Price. Key Points from the Grayscale Report
Bitcoin has returned to growth and reached $45,000. What's next?
In London, the trial of the self-proclaimed creator of Bitcoin has begun.
One of the best months. What will happen to Bitcoin in February
Trustpilot