T3 Financial Crime Unit (T3 FCU), a joint effort of Tether, TRON, and TRM Labs, has frozen over USD 300 million in illegal assets across the globe. This is a positive step forward in combating financial crime involving cryptocurrencies.
A collaborative effort
T3 FCU has been a model for public-private cooperation in blockchain security since its launch in September 2024. It has worked with law enforcement around the world to identify, trace and eradicate criminal networks leveraging cryptocurrencies.
The Brazilian Federal Police officially acknowledged T3 FCU this month for its support in Operation Lusocoin, a significant investigation into widespread money laundering and currency evasion using cryptocurrency holdings, further highlighting the organisation’s significance.
Over R$3 billion in assets, including 4.3 million USDT connected to the criminal organisation, were frozen as a consequence of the investigation, highlighting the effectiveness of international cooperation between exchanges, analytics companies, and law enforcement.
Security for blockchain and crypto
The T3 FCU’s success is a result of its coordinated strategy for enhancing transparency and trust throughout the blockchain ecosystem. The T3 FCU has assisted law enforcement organisations in 23 jurisdictions on every continent but Africa in just one year.
The United States ($83M, 27% of volume, 37 instances), Spain, Germany, Albania, Bulgaria, Finland, Brazil (more than $13M, 4% of volume, 7 cases), Australia, Poland, and the United Kingdom reported the highest amounts of aid.
Illegal products and services (39%), fraud and scams, hacks and exploits, instances connected to the DPRK ($19 million for the Bybit hack alone), crimes involving prohibited or regulated drugs, terrorist funding, and violent crimes were the most often examined typologies.
“Tether is deeply committed to maintaining the integrity of the financial ecosystem by collaborating with over 280 law enforcement agencies globally,” said Paolo Ardoino, CEO of Tether.
“Reaching the USD 300 million milestone demonstrates the real-world impact of blockchain technology in combating financial crime. We’ve consistently backed that belief with action, working closely with global law enforcement agencies to monitor transactions and disrupt criminal activity, and we’ll continue working closely with partners worldwide to ensure stablecoins remain a force for transparency and security.”
What does this mean?
With many ongoing cases, T3 FCU continues to work closely with law enforcement organisations worldwide, including Europol. Investigations into money laundering, investment fraud, extortion, financing of terrorism, and other financial crimes are aided by these partnerships.
Also Read: Tron, Tether, & TRM Labs Launch T3 Financial Crime Unit To Combat Illicit Activity