Recently, well-known overseas media including Forbes, CoinDesk, Cointelegraph, Benzinga and TheBlock have reported that TRON, Tether and leading blockchain intelligence company TRM Labs have jointly established a financial crime unit (T3FCU), which will combat illegal activities involving USDT on TRON. Commentators said that the relevant cooperation shows the cryptocurrency industrys positive attitude in preventing on-chain financial crimes and helps promote the compliance process of the entire industry.
Media reports indicate that the task force, called the T 3 Financial Crimes Strike Team (T 3 FCU), will target illegal activities involving USDT on TRON. According to Tether data, the total amount of USDT in circulation on TRON is $60.7 billion, $53.9 billion on the Ethereum chain, and $712 million on the Solana chain.
Currently, the total market value of USDT exceeds $118 billion, and more than half of USDT runs on TRON. This scale and ease of use make it a target for malicious actors. T3 FCU is committed to combating these activities by leveraging data, technology, and in-depth cooperation with law enforcement agencies.
The T 3 FCU initiative was launched in July in direct response to these growing risks, the media said. TRMs blockchain intelligence helps identify and flag suspicious activity, while the Tether and TRON teams act on these findings. To date, the group has helped freeze more than $12 million in USDT associated with fraudulent activities, including extortion and fraud schemes, across three continents. So far, 11 victims have been identified, and more are expected as the investigation continues.
“TRON has always been committed to the idea of using technology for good and hopes that technology can benefit everyone in the world. TRON hopes to work with TRM Labs and Tether to ensure that blockchain technology is properly applied. At the same time, we must also send a clear signal that illegal activities have no place in the blockchain industry.” said Justin Sun, founder of TRON.
Chris Janczewski, TRMs global head of investigations, also highlighted the scale of this collaboration: The first three operations that weve successfully responded to involved agencies in the UK, US and Australia. So weve seen that in many of these cases, a global effort is required, and I think people coming together to help is going to have a huge impact in the months and years ahead.
Paolo Ardoino, CEO of Tether, emphasized the speed with which the system can respond to crimes. It only takes a few minutes to freeze assets on the blockchain. Imagine someone stealing money from a bank, moving it to different jurisdictions, and it takes a long time to resolve this through traditional judicial channels. The T3 group is an example of a three-way collaboration where blockchain analysis companies, blockchain developers, and stablecoin issuers have joined forces to create an alliance that will focus on blockchain security and reduce the delay between when we receive the first piece of information and when we execute the action. This is simply not possible in the traditional international financial system.
The strong alliance between TRON, Tether and TRM Labs, through the establishment of T3 FCU, not only demonstrates the blockchain industrys firm determination to combat illegal activities and maintain financial security, but also sets an example for the healthy development of blockchain technology, indicating that the future blockchain ecosystem will be more secure and compliant, creating a more reliable and trustworthy environment for users.
Source: Phoenix.com
