Key Takeaways:

Tron, Tether, and TRM Labs launched the T3 Financial Crime Unit to combat illegal activity involving USDT on Tron.
TRM Labs reports that 45% of illicit crypto activity occurred on Tron, prompting the initiative to curb misuse.
$12 million in USDT linked to criminal activities has already been frozen.

The T3 Financial Crime Unit (T3 FCU) has been formed by Tron, Tether, and blockchain intelligence firm TRM Labs to combat illegal activities involving USDT, a stablecoin issued on the Tron blockchain.

A 2023 report by TRM Labs revealed that nearly 45% of illicit cryptocurrency activity occurred on Tron, prompting the initiative.

#TRON originated with the belief that technology can be used for good and to empower people across the globe.

By collaborating with @trmlabs and @Tether_to to establish the T3 Financial Crime Unit, #TRON is helping to ensure that blockchain technology is used to make our world… https://t.co/AlMBg41Oe5
— H.E. Justin Sun🌞(hiring) (@justinsuntron) September 10, 2024

Tron’s founder, Justin Sun, emphasized the goal of using blockchain for positive change.

The T3 FCU aims to monitor and reduce suspicious activity involving USDT, which has significant circulation on Tron.

So far, $12 million in USDT linked to fraud and blackmail has been frozen.

JUST IN: TRON, TETHER, AND TRM LABS JOINED FORCES TO LAUNCH THE T3 FINANCIAL CRIME UNIT TO COMBAT ILLEGAL USDT USE ON THE TRON BLOCKCHAIN
— BSCN Headlines (@BSCNheadlines) September 10, 2024

TRM Labs will provide intelligence tools to track and address potential criminal behavior.

Chris Janczewski from TRM Labs highlighted the importance of reducing illicit activity as stablecoin usage expands.

The move follows Circle’s earlier decision to stop issuing USDC stablecoins on Tron due to risk concerns.

About The Author

Written by

Efe Bravo

News Reporter

Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.

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