Tether, TRON, and TRM Labs say they have frozen over $100 million digital assets globally as they seek to impede criminal activity pertaining to crypto. TRM Labs is a blockchain intelligence firm.
The collaboration has been labeled the T3 Financial Crime Unit (T3 FCU) launched last August.
T3 FCU is said to work directly with different enforcement agencies around the world to “disrupt criminal networks.”
As most people know, crypto or digital assets are utilized for illicit activity due to the ability to quickly move value globally. As regulations in different jurisdictions differ, criminals can use digital assets to move/hide/launder ill-gotten funds. While most all digital assets can be tracked via the ledger – this still takes time and effort and enforcement agencies continue to develop tools and hire firms that can aid in uncovering criminal activity.
Justin Sun, founder of the TRON blockchain, says criminals will now think twice before using TRON, stating they will be caught if they use that crypto and USDT.
The T3 Financial Crime Unit (T3 FCU), a collaboration between Tether, TRON, and TRM Labs, has frozen more than $100 million in criminal assets globally, passing a significant milestone in its fight against cryptocurrency-related financial crime.
“Tether is deeply committed to maintaining the integrity of the financial ecosystem by proactively collaborating with global law enforcement agencies,” said Paolo Ardoino, CEO of Tether, who called the partnership transformative.
“T3 FCU’s ability to work closely with law enforcement worldwide to effectively disrupt cybercriminals from using USDT on TRON is a proof of concept for public-private partnerships,” said Chris Janczewski, head of global investigations at TRM Labs. “Surpassing $ 100 million in frozen assets is just the beginning. In 2025 and beyond, as more and more lawful users enter the growing crypto ecosystem, it is more important than ever to keep it safe. T3 is dedicated to that mission.”