Tron Blockchain favored for Hamas funding

The Israeli-Palestinian conflict takes a new turn as Israeli authorities discover the Tron network’s growing involvement in terrorist financing via crypto-currency transfers. The Tron blockchain has in fact become the preferred channel for radical Palestinian groups, notably Hamas, to raise and channel funding while remaining under the radar of the authorities.

Tron blockchain, the rising star of terrorist financing

As the conflict between Israel and Palestine continues to rage, Israeli security agencies have discovered that the Tron crypto network has become the preferred channel for fund transfers by Palestinian militant groups. The Tron blockchain is now at the heart of a new front in the fight against terrorist financing in the Middle East.

According to financial crime experts and on-chain (on blockchain) transactions investigative specialists, Tron (TRX) has outdated Bitcoin (BTC) as a platform for crypto transfers associated with groups identified as terrorists by Israel and other countries.

Between 2021 and 2023, Israel’s National Anti-Terrorist Financing Bureau identified and froze 143 portfolios Tron associated with groups such as Hamas or the Hezbollah. 87 of these seizures took place this year include 39 portfolios linked to Hezbollah and 26 portfolios associated with the Palestinian Islamic Jihad. 46 Tron portfolios linked to Dubai Coa Gaza-based trading company suspected of financing Hamas, were also frozen last year.

Although Hamas has announced the end of Bitcoin fund-raising, he seems to have found an ideal substitute in Tron.

Why does Tron appeal to terrorists?

According to Mriganka Pattnaik, CEO of Merkle Sciencea New York-based blockchain analysis company, there are several technical and practical advantages that explain why Tron has become the crypto network of choice for terrorist groups.

Firstly, Tron enables significantly faster transactions than Bitcoin, for lower fees. A crucial advantage when it comes to sensitive financial movements.

What’s more, not having attracted as much media attention as the leading Bitcoin network, Tron has managed to evolve under the radar of most intelligence services. A discretion conducive to illicit activities.

Conclusion

In the face of these compromising revelations, a Tron spokesman defended himself by pointing out the network’s lack of control over the use made of its technology, in the same way as the US dollar is routinely used to launder dirty money. A parallel which, while not unfounded, does little to dispel the proven links between Tron portfolios and these terrorist organizations.

It seems that technology is always at least one step ahead when it comes to bypassing the control systems put in place by public institutions. They say money has no smell, but that’s no longer true when we’re talking about transparent, public blockchain operations.
So will blockchain technology – contrary to popular belief – strengthen the fight against money laundering and the financing of terrorism? After all, wasn’t it traceability that enabled the financing through the Tron blockchain to be detected with such certainty?