Policy
Tether and Tron-Backed T3 Initiative Freezes $250 Million in Criminal Assets Within a Year
T3 Financial Crime Unit has made significant strides in combating crypto-related crimes by freezing vast amounts of illicit assets, now launching a program to enhance global enforcement.
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The T3 Financial Crime Unit, a collaboration involving Tron, Tether, and TRM Labs, has successfully frozen assets worth over $250 million in just under a year of operation.
“Freezing over $250 million in illicit assets in less than a year is a powerful testament to what’s possible when the industry comes together with a shared goal,” Paolo Ardoino, CEO of Tether, stated on Tuesday.
Key Highlights:
- The unit launched in September 2024 and has partnered with global law enforcement to tackle money laundering, scams, and other criminal activities, overseeing transaction volumes exceeding $3 billion.
- The newly introduced T3+ program intends to improve cross-border investigations with Binance as a founding member, which has already halted $6 million related to a scam.
T3 has coordinated actions against various financial crimes, setting significant precedents in the cryptocurrency sector.
