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Tether and Tron's T3 Unit Freezes $26.4M in Crypto Money Laundering Scheme

Coin WorldFriday, Jan 31, 2025 9:28 pm ET

1min read

Tether and Tron's T3 Unit Freeze $26.4 Million in Money Laundering Scheme

The T3 Financial Crimes Unit (FCU), a collaboration between Tron, Tether, and TRM Labs, has successfully assisted Spanish authorities in freezing $26.4 million used in a cryptocurrency money laundering operation. This marks another significant achievement for the T3 FCU, which has been actively tackling high-profile cases since its formation in September 2022.

The criminal organization involved in this scheme operated across multiple European nations, but the public-private partnership between Spanish law enforcement and the T3 FCU managed to track and disrupt its activities. The Guardia Civil spokesperson praised the collaboration, stating that it provided law enforcement with powerful new capabilities in the fight against organized crime.

TRM Labs, a major blockchain intelligence platform, plays a crucial role in the T3 Unit by providing critical intelligence on laundered crypto assets to Tether and Tron. Tether, the stablecoin giant, has been actively ramping up anti-money laundering efforts and has coordinated with several major law enforcement agencies to demonstrate compliance with AML policies.

Tron's involvement in the T3 Unit may seem questionable given its founder, Justin Sun, faced SEC charges in 2023 and the network's reputation has been damaged by several failed projects. However, Sun maintains that TRON's transparency makes it harder, not easier, to launder money and has shown strong commitment to the T3 FCU's crime-fighting initiative.

In this particular case, Spanish authorities handled traditional police surveillance techniques, while the crypto firms searched through blockchain data alongside VASP and KYC records. This episode is another win for the T3 FCU, demonstrating the effectiveness of public-private partnerships in combating crypto-related financial crimes.

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