Tron Blockchain Founder Justin Sun Rejects Reports Linking His Protocol to Terror Funding

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Tron blockchain founder Justin Sun has rejected suggestions that his protocol is increasingly being used by terrorist organizations. Sun said Tron’s top priority remains maintaining decentralization as well as making sure users’ assets remain safe. A new report suggests that between July 2021 and October 2023, Israel’s National Bureau for Counter-Terror Financing (NBCTF) seized 143 Tron wallets.

Tron Wallets Linked to Designated Terrorist Organizations

Justin Sun, the founder of Tron blockchain, has pushed back against reports suggesting that terror organizations are increasingly moving funds via his network. In a post on X (formerly Twitter), Sun, who did not directly address claims in a Reuters report, argued that the responsibility of running Tron is entrusted to “global super representatives.” He implied that neither he nor his team determine who uses the protocol.

According to a group of experts interviewed by Reuters, many terror organizations now prefer moving funds via the Tron protocol because it is faster and cheaper than the Bitcoin network. To back this claim, the Reuters report cites the seizure of 143 Tron wallets between July 2021 and October 2023 by Israel’s National Bureau for Counter-Terror Financing (NBCTF).

The wallets were either linked to “designated terrorist organizations” or had been used for “severe terror crime.” As stated in the Reuters report, 87 Tron wallets seized by Israeli authorities so far this year belonged to Hezbollah while another 56 belonged to Hamas. Both organizations are branded terrorist organizations by the U.S., the European Union, and Israel.

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 孙宇晨 (@justinsuntron) November 27, 2023

However, in his Nov. 27 post on X, Sun insisted that Tron is committed to fighting terror funding and protecting users’ assets.

“While we are committed to combating terrorist financing by integrating various analysis projects and partners, our top priority remains maintaining decentralization, ensuring the safety of everyone’s assets, and providing instant, affordable, and reliable transactions, as has always been the case,” Sun said.

The Tron founder, who is rumored to be U.S. regulators’ next target after Binance’s Changpeng Zhao, ended the post by expressing his gratitude for industry players contributing to the widespread adoption of cryptocurrency.

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