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In the ongoing battle against terrorism financing, Israel’s National Bureau for Counter Terror Financing (NBCTF) faces a new challenge: the emerging use of the cryptocurrency network Tron. 
Renowned for its quick transaction times and low fees, Tron has surpassed Bitcoin as the preferred cryptocurrency for transfers linked to militant groups, including Hamas and Hezbollah, which are recognized as terrorist organizations by Israel, the United States, and other nations 
A recent analysis by <a href="https://www.reuters.com/world/middle-east/new-crypto-front-emerges-israels-militant-financing-fight-2023-11-27/" rel="nofollow noopener" target="_blank">Reuters</a> of crypto seizures announced by Israeli security services since 2021 indicates a notable increase in the targeting of Tron wallets, with a simultaneous decline in Bitcoin wallet seizures. 
This shift is attributed to Tron’s enhanced features such as speed, cost-effectiveness, and stability, according to financial crime experts and blockchain investigation specialists. 
Merkle Science, a New York-based blockchain analysis firm, corroborates this trend. The firm’s CEO, Mriganka Pattnaik, notes an increased preference for Tron among these militant groups. Merkle Science’s clientele includes law enforcement agencies from the U.S., Britain, and Singapore. 
The NBCTF froze 143 Tron wallets between July 2021 and October 2023, suspecting connections to terrorist organizations or severe terror crimes. This rise in Tron seizures coincides with escalating tensions in the Middle East, exemplified by the Hamas attacks on Israel and Israel’s subsequent military response in Gaza. 
Tron’s spokesperson, Hayward Wong, acknowledges that any technology, including cryptocurrencies like the U.S. dollar, can theoretically be misused. However, he emphasizes that Tron does not control its users and is not affiliated with the identified militant groups. 
The majority of Israel’s Tron seizures in 2023 involved wallets allegedly owned by Hezbollah and Palestinian Islamic Jihad, an ally of Hamas. The seizures also included wallets linked to Hamas, specifically those connected to Dubai Co. For Exchange, a Gaza-based money exchange company Israel labels as a terrorist group. 
The shift to Tron comes amid heightened scrutiny of cryptocurrency transactions by militant groups. Iran, a known supporter of the ‘Axis of Resistance’ against Israeli and American influence, has previously utilized Tron to circumvent U.S. sanctions. 
This development raises critical concerns about the effectiveness of current counter-terrorism financing measures in the age of digital currencies. The challenge is compounded by the inherent difficulty in tracing and identifying the real beneficiaries of these cryptocurrency transactions.

Tron surpasses Bitcoin as preferred cryptocurrency for militant groups

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