Blockchain forensics firm TRM Labs has launched a new real-time intelligence system called Beacon Network, designed to detect fraud-linked cryptocurrency before it can be converted into cash.

The project brings together exchanges, custodians, stablecoin issuers, law enforcement agencies, and security researchers onto a shared alarm system, the New York-headquartered firm said in a blog post on Wednesday.

TRM Labs noted that more than $47 billion has been sent to fraud-related addresses since 2023. Blockchain firms that track stolen value report that 2025 has already seen more than $2 billion taken from crypto services, with a single Bybit incident accounting for roughly $1.5 billion.

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