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INSIGHT: New crypto currency that has become favourite of terror organisations comes under scrutiny in Israel-Hamas war

HAMAS: AN analysis of crypto seizures announced by Israeli security services since 2021 reflects the trend, showing for the first time a sharp rise in the targeting of Tron wallets and a fall in Bitcoin wallet seizures. PHOTO: Image grab of footage recovered from bodies of Hamas fighters bodycam show their infiltration into southern Israel from Gaza on Oct 7, 2023.

By Tom Wilson and Elizabeth Howcroft

A new front has emerged in Israel’s fight against the funding of Iran-backed militant groups from Hamas to Hezbollah: A fast-growing crypto network called Tron.

Quicker and cheaper than its larger rival Bitcoin, Tron has overtaken its rival as a platform for crypto transfers associated with groups designated as terror organizations by Israel, the United States and other countries, according to interviews with seven financial crime experts and blockchain investigations specialists.

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