T3 Financial Crime Unit Established To Combat Financial Crimes

Key Points:

• TRON, Tether, and TRM Labs launched the T3 Financial Crime Unit to combat financial crimes involving Tether’s USDT stablecoin on the TRON blockchain.
• The unit successfully froze over USDT 12 million tied to scams and fraud, with authorities identifying 11 victims and ongoing investigations.

TRON, Tether, and TRM Labs officially announced the launch of the T3 Financial Crime Unit (T3 FCU), a joint initiative to combat financial crime in the crypto space.

Read more: Tether Law Enforcement Support Boosted With Over $100M Recovered

TRON, Tether, and TRM Labs Establish T3 Financial Crime Unit

The newly established task force would, at the outset, proactively deal with any illegal activity related to Tether’s USDT stablecoin on the TRON blockchain.

Announcing this on Tuesday, TRM Labs said the T3 Financial Crime Unit brings together the best of the three partners to increase safety in the crypto space. To be sure, the unit will also work in concert with law enforcement and industry leaders to protect users against scams and fraud while ensuring a secure and transparent crypto ecosystem.

Within weeks of going live, T3 FCU had already worked with law enforcement to freeze over 12 million USDT linked to blackmail schemes and investment fraud, among other illicit activities. At least 11 victims have been identified, though authorities anticipate the number to be even higher as further investigations are conducted.

TRM Labs to Support Global Efforts in Combating Crypto Crimes

In that process, TRM Labs will be leading by taking the lead in helping TRON and Tether monitor transactions linked to terror, evasion of sanctions, theft, hacking, and other cybercrime.

The company shall make its proprietary technology available, coupled with a team of seasoned investigators, who will go full throttle in providing intelligence and supporting such efforts in the fight against the stated crimes.

T3 Financial Crime Unit is not just looking to secure the TRON network; it does so with the belief of assuring broad security across the crypto industry. USDT is one of the most widespread and leading stablecoins, with a market cap of $117 billion, which makes it an appealing object for attacks from the criminal world.

The key mission of T3 FCU is securing the integrity of blockchain technology, with particular attention to the issue of crypto-related crime, which is definitely on the rise.