The T3 Financial Crime Unit (T3 FCU)—a joint task force formed by Tether, TRON, and TRM Labs—has frozen $26.4 million in crypto tied to a large-scale European money laundering operation, according to a Jan. 27 statement shared with CryptoSlate.
The operation, conducted in partnership with Spain’s Guardia Civil, represents the task force’s most significant milestone since its creation in August 2024.
How $26.4 million was frozen
The authorities disclosed that the criminal network operated across Europe, offering services to convert illicit cash into crypto.
The group enabled criminals to move funds across borders while concealing their illegal origins by leveraging the emerging industry’s borderless nature.
The investigation utilized advanced surveillance tools, blockchain analytics, and Know Your Customer (KYC) data from Virtual Asset Service Providers (VASPs). These resources allowed investigators to trace and confirm the network’s activities.
A Guardia Civil spokesperson credited T3 FCU’s contributions for successfully freezing the funds, calling it a critical step in combating organized financial crime. The spokesperson further emphasized that the case highlights the necessity of collaboration between law enforcement agencies and blockchain firms.
Since its launch, T3 FCU has frozen over $126 million in criminal assets worldwide. The unit combines TRM Labs’ blockchain intelligence with the security expertise of Tether and TRON, creating a robust framework for disrupting money laundering activities.
Blockchain’s role in fighting crimes
TRON founder Justin Sun noted that the case shows blockchain technology’s potential to deter illicit activities. He said that while some criminals exploit blockchain’s speed and borderless nature, its transparency makes their operations easier to detect.
He added:
“While traditional financial crime can hide in the shadows, blockchain ensures sunlight reaches every corner.”
On the other hand, Paolo Ardoino, Tether’s CEO, reaffirmed the company’s commitment to protecting the global financial system. He stated that this case illustrates blockchain’s power to expose and dismantle criminal networks.
According to him, Tether has supported over 220 law enforcement agencies across 51 jurisdictions and frozen 2,400 wallets holding around $2.2 billion in USDT.
Ardoino warned that Tether takes a zero-tolerance approach to financial crime, stressing that those who misuse its stablecoin will face legal consequences. He added that the case highlights the value of proactive collaboration in ensuring the safety of digital assets.
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