{"id":92781,"date":"2024-09-10T09:12:07","date_gmt":"2024-09-10T13:12:07","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=92781"},"modified":"2024-09-10T09:14:56","modified_gmt":"2024-09-10T13:14:56","slug":"tether-tron-trm-labs-partner-to-combat-crime","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/tether-tron-trm-labs-partner-to-combat-crime\/","title":{"rendered":"Tether, Tron, TRM Labs Partner to Combat Crypto Crime\u00a0"},"content":{"rendered":"\n

The T3 Financial Crime Unit was established by TRON, Tether, and TRM Labs to work together to tackle illegal activities linked to USDT on the TRON network<\/a>.<\/p>\n\n\n\n

\"Tether,
Tether, Tron, TRM Labs Partner to Combat Crypto Crime\u00a0<\/figcaption><\/figure>\n\n\n\n

The T3 Financial Crime Unit is a collaboration between the blockchain network TRON, stablecoin provider Tether, and blockchain forensic company<\/a> TRM Labs. Its goal is to stop illegal activities associated with the TRON blockchain.\u00a0<\/p>\n\n\n\n

\n

#TRON\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, @Tether_to<\/use><\/svg><\/span><\/a>, and @trmlabs<\/use><\/svg><\/span><\/a> today announced we have joined forces to establish the T3 Financial Crime Unit, 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.\u2026 pic.twitter.com\/156pMChPra<\/use><\/svg><\/span><\/a><\/p>— TRON DAO (@trondao) September 10, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

Through its most recent project, the T3 FCU hopes to stop malicious activity<\/a> by utilizing technology, data, and close cooperation with law enforcement. <\/p>\n\n\n\n

According to data from TRONScan, as of August, TRON hosts more than 240 million user accounts and handles more than 8.4 billion transactions. <\/p>\n\n\n\n

However, the same characteristics that attract legal users to USDT on TRON\u2014low costs, reliability, and user-friendliness\u2014have also drawn terrorists, money launderers<\/a>, and con artists. <\/p>\n\n\n\n

In comparison to other stablecoins, USDT accounted for more than $19 billion in illegal funds, according to data from TRM Labs' “Illicit Crypto Economy” report. <\/p>\n\n\n\n

USDT has “solidified its status as the preferred currency for use by terrorist financing entities”, according to TRM Labs. By contrast, the unlawful volume recorded by USD Coin (USDC) was only $428.9 million. <\/p>\n\n\n\n

According to TRM Labs' analysis, TRON facilitated 45% of all illicit cryptocurrency transactions<\/use><\/svg><\/span><\/a> in 2023\u2014an increase from 41% the year before. By comparison, the shares of Ethereum and Bitcoin were 24% and 18%, respectively. <\/p>\n\n\n\n

The T3 effort has demonstrated its efficacy by successfully freezing more than $12 million in USDT associated with fraudulent schemes and blackmail. Eleven victims have been identified thus far, and as the investigations continue, more are anticipated. <\/p>\n\n\n\n

The head of TRM's worldwide investigations, Chris Janczewski, highlighted the value of international cooperation in a Forbes column, pointing out that the attempt to stop unlawful operations has engaged authorities in the U.S., Australia, and the United Kingdom.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The T3 Financial Crime Unit was established by TRON, Tether, and TRM Labs to work together to tackle illegal activities linked to USDT on the TRON network. The T3 Financial Crime Unit is a collaboration between the blockchain network TRON, stablecoin provider Tether, and blockchain forensic company TRM Labs. Its goal is to stop illegal […]<\/p>\n","protected":false},"author":43,"featured_media":92783,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[21742,15044,144],"class_list":["post-92781","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto-crime","tag-trm-labs-2","tag-tron"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/09\/croc_1725972912558.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/92781","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=92781"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/92781\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/92783"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=92781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=92781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=92781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}