TRON, Tether, and TRM Labs joined forces and established a T3 Financial Crime Unit (T3 FCU). This initiative seeks to bolster public-private cooperation in combating financial crime in the crypto space.
Crypto analyst “Wu BlockChain” broke this news to his 390k followers this afternoon. He mentioned that in the weeks since its launch, the initiative, in collaboration with law enforcement, facilitated the freezing of over USDT 12 million in funds.
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What you'll learn 👉
Addressing Illicit Activity on TRON
USDT plays a vital role in the crypto economy because of its massive $117 billion market cap. The TRON blockchain derives over 50% of its supply from USDT.
Moreover, USDT’s low fees and ease of use have made it popular among legitimate users, it has also attracted the attention of malicious actors. More and more people are using the TRON blockchain, which means there’s a higher chance of bad things happening, like people trying to hide stolen money or defraud others.
To fight these problems, the T3 FCU aims to safeguard TRON’s network by identifying and preventing criminal use of USDT. With its continuous intelligence in tracking illegal transactions and support for criminal investigations, TRM Labs will play a pivotal role.
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Show more +Public-Private Collaboration to Ensure Security
This relationship between Tether, TRON, and TRM Labs emphasizes the growing power of public-private collaborations in combating financial crime within the cryptocurrency industry.
Moreso, to assist law enforcement in fighting threats such as terrorism, sanctions evasion, and cybercrime, TRM Labs will leverage its in-house technologies and global network of experts.
Lastly, TRON’s founder, Justin Sun, said that working together with TRM Lab and Tether will make sure blockchain technology is used for good things. Tether’s CEO, Paolo Ardiono, also promised that they’ll keep working hard to keep digital money safe and trustworthy.
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