Tether, TRM Labs, and TRON freeze $100 million in illicit crypto funds, strengthening blockchain security and combating financial crimes.
The T3 Financial Crime Unit (T3 FCU), formed by Tether, TRM Labs, and TRON, has frozen over $100 million in criminal assets globally. It is an important step against cryptocurrency related financial crimes. In 2024, the unit was launched as a collaboration to promote blockchain security.
According to the Tether release, T3 FCU works closely with law enforcement agencies worldwide. The organization has the mission to discover and stop the criminal use of cryptocurrency. It has dealt with crimes like money laundering, investment fraud, blackmail, understanding terrorism financing and other serious financial crimes.
Since its launch, T3 FCU has examined millions of transactions on five continents. Over $3 billion in USDT (Tether) transactions are monitored. T3 FCU’s extensive monitoring enables them to respond immediately and with great efficiency to criminal activity as it is occurring in real time to law enforcement agencies.
Tether, TRON, and TRM Labs Ensure Blockchain Security
Justin Sun, the TRON founder, also expressed his jubilance over T3 FCU’s success. He also said such criminals now have “100 million reasons to think twice” before using TRON for illegal activities. However, criminals using USDT on the TRON network will be caught, he stressed.
Tether CEO, Paolo Ardoino, says Tether is committed to upholding integrity within the financial ecosystem. Tether also worked with law enforcement to help freeze criminal assets, he pointed out. Which Ardoino also that this partnership makes it easier to prevent stablecoins like USDT from being used for illicit purpose.
TRM Labs head of global investigations Chris Janczewski also lauded the work T3 FCU has done. This is a strong example of how public private partnerships are working to fight cybercrime, he said. However, he cautioned that the $100 million in frozen assets is just the beginning. As the cryptocurrency ecosystem continues to grow and mature, he stressed it is essential the ecosystem remains secure.
The T3 FCU case demonstrates the expanding need for cooperation between the private sector and law enforcement in the digital asset area combating financial crimes. With the growth of cryptocurrency T3 FCU is ensuring that the standards of security, transparency, and accountability are set at new highs in the cryptocurrency industry.
