Onchain data has played a central role in securing terrorism financing convictions in Indonesia, marking a shift in how courts treat blockchain-based evidence.
TRM Labs said Indonesian courts accepted wallet addresses, transaction histories and onchain flows as key evidence in prosecuting three terrorism financing cases in 2024 and 2025.
“Cryptocurrency evidence — wallet addresses, transaction histories, on-chain flows — is not only admissible but can anchor a terrorism financing prosecution,”
TRM said.
Authorities traced one defendant transferring $49,000 in Tether across multiple transactions from a local exchange to a foreign platform, before the funds were routed to an ISIS-linked campaign.
The investigation was led by Indonesia’s financial intelligence unit and counterterrorism police, Densus 88, with blockchain analytics forming the backbone of the case.
Following the announcement the TRM Labs share price was unchanged at $N/A.
The cases highlight a broader regional trend, with countries like Singapore and Malaysia increasing investment in blockchain intelligence to track illicit finance.
The development comes as illicit entities received an estimated $141 billion in stablecoins in 2025, underscoring growing scrutiny of crypto-related financial crime.