Indonesian courts convicted three individuals for financing terrorism in 2024 and 2025, with on-chain evidence forming the basis for each prosecution.
These cases clearly demonstrate that Southeast Asian courts are now taking blockchain data more seriously: wallet addresses and transaction history can now serve as valid, decisive evidence.
How blockchain data has built the case
The Indonesian Financial Intelligence Agency, PPATK, collaborated with the police's elite unit Densus 88 to track crypto transactions linked to all three suspects.
None of these individuals carried out attacks themselves. They raised money, transferred it, and converted it to crypto to move funds to terrorist networks.
A suspect sent over $49,000 in Tether (USDT) through 15 transactions from an Indonesian crypto exchange to a foreign platform.
According to TRM Labs, these funds ended up in a fundraising campaign for ISIS in Syria.
“Indonesian courts have shown that crypto evidence… is not only admissible but can also be central evidence in prosecuting terrorism financing,” states the report from TRM Labs.
Indonesia is not alone in this. TRM Labs reported that Singapore, Malaysia, and other Southeast Asian countries are all investing in blockchain intelligence.
The company described a broader trend that terrorist networks were switching to cryptocurrency precisely because there was less stringent oversight than with traditional fiat channels.
On April 1, Li Xiong, the former chairman of Huione Group, was arrested by Cambodian and Chinese authorities. According to the allegations, this organization operated as a hub for scam businesses that conducted, among other things, 'pig butchering' fraud and other crypto theft.
Xiong was extradited to China, where he is suspected of fraud and money laundering. His arrest followed three months after the detention of Chen Zhi, the head of Prince Group – the company that manages Huione Group.
TRM reported separately in February that fraudulent entities received approximately $141 billion in stablecoins in 2025, the highest amount in five years. Activities related to sanctions accounted for 86% of all illicit crypto flows that year.
These Indonesian verdicts show that the period in which crypto was quietly used to finance terrorism is almost over—especially now that more courts in the region are accepting blockchain data as directly usable evidence.
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