Tron, Tether, and TRM Labs have joined forces to create T3 Financial Crime Unit (T3 FCU), a group aimed at reducing illegal activities involving USDT (popular stable coin) on the Tron Blockchain. This initiative is taken up to make the crypto world safer by tracking down scams and other illegal activities.
What is T3 Financial Crime Unit?
This T3 Unit is a collaboration between Tron, a blockchain network; Tether, the company behind the stablecoin; and TRM Labs, a firm that specializes in blockchain intelligence. TRM’s blockchain intelligence helps to identify and flag suspicious activity, while Tether and Tron’s teams take action based on those findings.
As Tron Blockchain is widely used with over 247 million user accounts and 8 billion transactions processed. This makes it the target for illegal activities such as money laundering and scams.
In fact, in 2023, USD on Tron encountered 19.3 billion illicit transactions which is 1.63% of its total volume.
Early Success and Future Impact
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To stop criminal activities in the crypto space, this collaboration was initiated and since its launch in July 2024, T3 FCU has frozen over 12 million in USDT linked to illegal activities across the three continents.
Paolo Ardoino, CEO of Tether highlights how quickly the system can respond to the crime and that the collaboration between these three organizations shows promise in making crypto space safer and secure.
The T3 launch timing is noteworthy as it coincides with the arrest of Telegram’s Parel Durov. Despite these circumstances, Tether and Tron’s leaders remain confident in their compliance, bringing to light their collaboration with 140 law enforcement agencies and 40 countries.
As these three continue to work closely together along with law enforcement agencies around the world, the alliance aims to push the number of illegal crypto activities closer to zero. And also many analysts are closely watching its potential impact on Tron’s future price movements.
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