Crypto crime unit with $250M in seizures expands with Binance
The T3 Financial Crime Unit (T3 FCU), launched in September 2024 by Tron, Tether, and TRM Labs, has frozen over $250 million in illicit crypto assets, doubling its reported seizures within the first six months. The unit collaborates with global law enforcement on financial crimes including money laundering and terrorism financing. The recent introduction of the T3+ program invites exchanges and financial institutions, starting with Binance, to enhance collaboration and response against crypto crimes. Reports indicate a surge in sophisticated crypto hacks, revealing that hackers can launder stolen funds in under three minutes, making recovery increasingly challenging. Just 4.2% of stolen funds were recovered in early 2025. The rapid laundering of illicit assets mostly occurs through centralized exchanges, raising concerns about the centralized power of stablecoin issuers to freeze transactions, which some argue conflicts with the decentralized principles of cryptocurrency. Others, including Tether's CEO, assert that this power is essential for combating bad actors on the blockchain.
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