T3 Financial Crime Unit Freezes Over $250 Million in Criminal Assets
The T3 Financial Crime Unit has frozen over $250 million in criminal assets within a year, collaborating with law enforcement across five continents. CEO Paolo Ardoino of Tether highlights the effectiveness of partnerships between agencies and crypto firms.
T3 Expands to Debut T3+
Launched in September 2024 by Tron, Tether, and TRM Labs, T3 aims to combat investment scams, drug operations, terrorism-related financial crimes, and hacks. Key achievements include:
- $100 million in USDT frozen earlier this year due to illicit activities.
- Monitoring over $3 billion in transactions linked to suspicious activities.
- Funds recovered from high-profile scams like "pig butchering" and organized crime networks in Europe.
T3 is now introducing “T3+,” enhancing public-private collaboration to improve monitoring and communication. Binance is the first partner for this initiative.
Crypto Firms See Increased Scams
The crypto industry faces rising scams, including:
- Aave's platform attacked via phishing tactics shortly after reaching $60 billion in net deposits.
- CoinDCX hacked for $44 million after a software engineer was tricked into installing malware.
Law enforcement continues to respond effectively to these criminal activities.