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    Home » Tron Surpasses Bitcoin in Crypto Transfers Linked to Terror Groups

    Tron Surpasses Bitcoin in Crypto Transfers Linked to Terror Groups

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    By jose on November 27, 2023 Companies, Cryptocurrencies, News, Tron News
    Tron Surpasses Bitcoin in Crypto Transfers Linked to Terror Groups
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    A recent report by Reuters revealed that Israel has identified a new crypto front in its fight against militant financing: the Tron (TRX) network. According to the report, Israel’s National Bureau of Counter-Terror Financing (NBCTF) has found that Hamas and other terror groups have switched from Bitcoin to Tron to evade sanctions and surveillance.

    The report cited a confidential NBCTF document that stated that 87 Tron wallets were linked to terrorism in 2023, 56 of which were linked to Hamas, the Islamist group that controls Gaza. The document also claimed that 46 of the 56 Hamas-linked wallets were connected to a Gaza-based money exchange company called Dubai Co. For Exchange, which allegedly facilitated the transfers of funds to and from the Tron network.

    The NBCTF document said that the Tron network was preferred by the terror groups because of its lower fees, faster transactions, and higher anonymity than Bitcoin. The document also noted that the Tron network had a lower level of regulatory oversight and compliance than other crypto platforms.

    Tron Founder Justin Sun Responded to the Allegations

    Tron Surpasses Bitcoin in Crypto Transfers Linked to Terror Groups

    The Reuters report sparked a swift response from Tron founder Justin Sun, who took to X to defend his decentralized protocol. Sun said that Tron was similar to Bitcoin and Ethereum, with nodes operating around the world, and that their interventions regarding such uses were limited. 

    TRON is a decentralized protocol, similar to Bitcoin and Ethereum, with nodes operating worldwide. Global super representatives are responsible for running this protocol. While we are committed to combating terrorist financing by integrating various analysis projects and…

    — H.E. Justin Sun 🍌 (@justinsuntron) November 27, 2023

    He also said that they were committed to combating terrorist financing by integrating various analysis projects and partners, but their top priority remained to maintain decentralized governance, ensure the security of everyone’s assets, and ensure instant, cost-effective, and reliable transactions.

    Sun also expressed his appreciation to everyone who contributed to the widespread adoption of cryptocurrency in the industry. He did not provide any clear information about any sanctions or measures being taken regarding the wallets allegedly linked to Hamas.

    The Reuters report highlighted the challenges faced by regulators and law enforcement agencies in tracking and preventing the illicit use of cryptocurrencies by terror groups and other actors. It also raised questions about the responsibility and accountability of the crypto platforms and developers in ensuring that their networks are not abused for nefarious purposes.

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