Highlights:
- The T3 Financial Crime Unit has announced its largest seizure yet, capturing $26.4 million from a European organized crime syndicate.
- To date, T3 has successfully frozen $126 million in total assets.
Article Content:
Spanish officials are attributing the recent successes against a transnational crime group to the T3 Financial Crime Unit, which comprises Tron, Tether, and TRM Labs. The criminal network purportedly operated across various European locations, facilitating cash-to-crypto laundering for illicit operations.
T3 has reported the seizure of $26.4 million, marking this operation as one of the most significant since the unit’s establishment last year. Their efforts have led to freezing substantial amounts, amounting to $126 million thus far.
“Public-private partnerships are particularly effective in cryptocurrency investigations because they leverage our distinct but complementary strengths,” Chris Janczewski, head of investigations at TRM Labs, stated in an email.
Translation: “Las asociaciones público-privadas son particularmente efectivas en las investigaciones sobre criptomonedas porque aprovechan nuestras fortalezas distintas pero complementarias.”
Spanish authorities utilized police monitoring methods and collaborated with various investigative tools, including KYC records from Virtual Asset Service Providers (VASP).
“We have a team that speaks both ‘crypto’ and ‘cop,’ incorporating law enforcement officials with vital experience across multiple agencies,” Janczewski added.
Translation: “Tenemos un equipo que habla tanto ‘crypto’ como ‘cop’, incorporando a funcionarios de la ley con experiencia esencial en múltiples agencias.”
In a statement, Paolo Ardoino, the CEO of Tether, remarked that Tether has partnered with over 220 law enforcement organizations in more than 51 jurisdictions to freeze more than 2,400 addresses, accounting for almost $2.2 billion USDT.
A release from Europol revealed that the identified transnational organization consisted mostly of individuals from Ukraine, alongside some from Armenia, Azerbaijan, or Kazakhstan.
