Hamas Shifts Cryptocurrency Operations to Tron for Financing Attacks on Israel

Hamas Shifts Cryptocurrency Operations to Tron for Financing Attacks on Israel

The Hamas terrorist organization has shifted its cryptocurrency operations from Bitcoin to Tron, a faster and more cost-effective blockchain, to finance attacks against Israel. Financial crime experts and blockchain specialists revealed this trend through interviews. The Israeli National Bureau for Counter-Terror Financing (NBCTF) seized over 143 Tron wallets linked to terrorist groups or used for terror activities between July 2021 and October 2023. The rise in Tron wallet seizures corresponds to a decrease in targeting Bitcoin addresses.

Merkle Science CEO Mriganka Pattnaik confirmed the shift based on on-chain data, citing Tron’s stability, lower fees, and quicker transaction times. The NBCTF froze 87 Tron wallets this year, with 39 tied to Hezbollah and 26 linked to Islamic Jihad, part of the “Axis of Resistance” coalition supported by Iran. Additionally, 56 wallets directly connected to Hamas were frozen, and 46 related to Gaza-based financial company Dubai Co. For Exchange were seized.

While Israel did not disclose specific crypto networks involved in the Dubai Co. seizure, several users revealed using Tron for personal or business finances, denying any connection to terrorist organizations. In April, Hamas’ armed wing announced the cessation of Bitcoin contributions, opting for Ether (ETH) and Tether (USDT) instead.

Tron has become the dominant blockchain for USDT, with the stablecoin reaching all-time highs in 2023.


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