Tron's Financial Crime Unit Freezes $100M in USDT Tied to Illegal Activities

Overview

The T3 Financial Crime Unit, led by Tron, partnered with Tether and TRM Labs, has announced the freezing of $100 million in USDT tied to illicit activities since its establishment.

Key Highlights

Collaboration: This effort is a joint venture between Tron, Tether, and TRM Labs.
Activities Monitored: The unit has targeted a variety of criminal actors, freezing USDT used in money laundering, investment scams, drug trafficking, and more.

Milestones Achieved

The milestone of $100 million frozen USDT was publicly reported following an analysis of millions of transactions across five continents, monitoring over $3 billion in USDT transactions.

Insights from TRM Labs

Chris Janczewski, the Head of Global Investigations at TRM Labs, stated:

"Blockchain is not conducive to money laundering due to its transparency. We can confirm victim reports on a public blockchain and even identify other victims, a level of insight that isn’t possible with traditional finance."

Geographic Focus

Approximately $3 million of the frozen USDT is linked to North Korea, which has been seeking funds through illicit means in the crypto sector. Efforts are ongoing to curb this influence, with international cooperation being vital.

Read the full details: CoinDesk Article.