Binance Joins $250M Crypto Crime Fight With Tron, Tether, TRM Labs

Binance has joined forces with Tron, Tether, and TRM Labs in a $250 million initiative aimed at combating crypto-related crime. The partnership, which includes a coalition of major blockchain players and compliance experts, is focused on curbing money laundering, terrorism financing, scams, and other forms of illicit financial activity. The initiative is led by the T3 Financial Crime Unit (T3 FCU), a public-private collaboration designed to track and intercept illicit blockchain transactions in real time [1].

The T3 FCU was established with the goal of dismantling criminal activity on the blockchain by pooling resources and intelligence across industry stakeholders. Founding members Tron, Tether, and TRM Labs have worked closely with law enforcement globally, and the new T3+ program expands the initiative to include banks, exchanges, and other participants. Binance’s inclusion in T3+ marks a significant step in the evolution of the program and reflects its growing influence in the fight against financial crime [1].

The group has already made notable progress, having frozen over $250 million in illegal cryptoassets—more than double the amount seized in the first six months of the initiative. These frozen assets are linked to a wide range of crimes, including investment fraud, ransomware attacks, blackmail, and terrorism financing. The scale of the operation highlights the magnitude of the threat to the crypto sector and the potential for coordinated action to mitigate it [1].

Binance’s initial involvement in the T3 FCU resulted in the freezing of nearly $6 million tied to an online investment fraud known as the “pig butchering” scam, where victims are tricked into investing in fake projects. The partnership enables Binance’s compliance and security teams to work more closely with T3 FCU analysts, allowing for faster identification and blocking of suspicious transactions [1].

Justin Sun, founder of Tron, emphasized that the collaboration will expand the scope of existing efforts and allow for real-time detection and prevention of illicit activity on the blockchain. Tether CEO Paolo Ardoino also noted that when companies work together, bad actors have fewer opportunities to exploit the system. However, the initiative has not been without controversy. Critics have raised concerns that allowing stablecoin issuers and exchanges to freeze transactions could erode user autonomy and centralize control in a space built on decentralization [1].

The urgency of the initiative is underscored by recent trends in crypto crime. According to a report from Swiss blockchain analytics firm Global Ledger, over $3 billion in crypto was stolen in the first half of 2025. Many of these thefts occur rapidly—some victims lose their funds within minutes of a breach. While centralized exchanges play a crucial role in preventing theft, the window for action is often narrow, with compliance teams having only 10–15 minutes to block suspicious transactions before the funds disappear [1].

Despite the challenges, industry leaders argue that collaboration is the most effective defense against crypto crime. With Binance now on board, the T3 FCU is better positioned to respond quickly and maintain pressure on criminal actors. The initiative represents a broader shift in the crypto industry, where major players are increasingly aligning with regulators and law enforcement to uphold compliance and transparency in the face of mounting global scrutiny [1].

Source: [1] Binance aligns with Tron, Tether, and TRM Labs in $250M crypto crime crackdown https://www.mitrade.com/insights/news/live-news/article-3-1034286-20250813