A group formed by TRON
$0.3457
, Tether
$0.9950
, and blockchain analytics firm TRM Labs has frozen over $250 million in crypto linked to illegal activity.
The team, called the T3 Financial Crime Unit (T3 FCU), is expanding its efforts through a new partnership program called T3+, with Binance
$7.06B
as the first participant.
T3 FCU was set up in September 2024 to detect and respond to suspicious blockchain transactions.
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The T3+ program aims to connect crypto exchanges, financial companies, and other key players, so they can share data quickly and respond collectively.
As part of this effort, the unit worked with Binance to stop around $6 million from being moved in a fraud case known as a “pig butchering” scam.
Binance said joining T3+ fits into its goal of improving security in the industry. Nils Andersen-Röed, who leads Binance’s financial intelligence team, said building trust in blockchain means everyone needs to take part in making sure the technology is not misused.
TRON’s founder, Justin Sun, said T3+ will help the group expand cooperation across the industry and react to threats as they happen. He emphasized that joint efforts between companies and law enforcement are key to making the crypto industry safer.
TRM Labs, which provides technical expertise for the group, said the results show that this model of teamwork can scale across borders. According to Chris Janczewski, who leads global investigations at TRM Labs, it also shows how law enforcement and private firms can operate together more effectively.
Arkham Intelligence, a blockchain analytics firm, recently reported that it identified a Bitcoin theft that went unnoticed for years. How? Read the full story.
