Disclosure: This is a sponsored post. Readers should conduct further research prior to taking any actions. Learn more ›
Singapore — September 10, 2024 — TRON, Tether, and TRM Labs today announced they have joined forces to establish the T3 Financial Crime Unit (T3 FCU), a first-of-its-kind initiative aimed at facilitating public-private collaboration to combat illicit activity associated with the use of USDT on the TRON blockchain. This collaboration brings together the expertise of TRM Labs, TRON, and Tether to create a safer crypto community.
In the weeks since its launch, the T3 FCU facilitated the freezing of over USDT 12 million in funds associated with various scams. Law enforcement is actively investigating these cases to identify victims and prevent further criminal activity.
Stablecoins like USDT play a crucial role in the digital asset industry, but they also attract malicious actors. The T3 FCU aims to disrupt criminal activity by identifying and preventing illicit transactions.
TRM will support TRON and Tether in identifying transactions linked to illegal activities. This collaboration strengthens efforts to combat financial crime and work with law enforcement worldwide.
The T3 FCU aims to enhance security across the TRON network and beyond by proactively addressing illicit activity. This initiative sends a clear message that blockchain technology should be used for good.
“At Tether, safeguarding the integrity of the blockchain ecosystem is a top priority. This collaboration underscores our dedication to combat illicit activity,” said Paolo Ardoino, CEO of Tether.
“TRM is proud to collaborate with industry leaders and law enforcement to build a safer blockchain industry for all,” said Chris Janczewski, head of global investigations at TRM Labs.
About TRON DAO
TRON DAO is a community-governed DAO that aims to decentralize the internet via blockchain technology and dApps.
Founded in September 2017 by Justin Sun, the TRON network has achieved significant milestones, with over 247 million total user accounts, 8 billion total transactions, and $22 billion in total value locked as of August 2024.
The TRON network hosts the largest circulating supply of USDT stablecoin globally, surpassing USDT on Ethereum in 2021.
For media inquiries, contact: [email protected]
About Tether
Tether is a pioneer in stablecoin technology, aiming to revolutionize the global financial landscape. It provides accessible and efficient financial infrastructure to empower individuals and businesses.
Tether is committed to building sustainable infrastructure for underserved communities by leveraging blockchain technology.
For media inquiries, contact: [email protected]
About TRM Labs
TRM Labs provides blockchain intelligence to detect and disrupt crypto-related fraud and financial crime. Its solutions help law enforcement, financial institutions, and cryptocurrency businesses combat illicit activity.
TRM is based in San Francisco, CA, and works with leading agencies worldwide to address blockchain intelligence needs.
For media inquiries, contact: [email protected]
