T3 FCU Has Frozen Over $300 Million in Illicit Funds – Crypto News – Crypto News
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T3 FCU Has Frozen Over $300 Million in Illicit Funds T3 FCU Has Frozen Over $300 Million in Illicit Funds

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T3 FCU Has Frozen Over $300 Million in Illicit Funds – Crypto News

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The financial crime unit created by Tether, Tron, and TRM Labs has frozen over $300 million since its September 2024 launch.

T3, a financial crime-fighting unit (FCU) founded by stablecoin issuer Tether, Tron, and TRM Labs, announced that it has frozen more than $300 million USD in illegally sourced onchain assets since its launch in September 2024.

The group surpassed the landmark this month after working with the Brazilian Federal Police on Operation Lusocoin to freeze and seize 4.3 million USDT linked to a money laundering scheme.

While the FCU has worked closely with global authorities, illicit funds have still managed to slip through the cracks this year, notably in Bybit’s $1.5 billion hack in February, carried out by North Korea’s Lazarus Group. As of July, the Lazarus Group had already laundered $1 billion of the stolen funds, making it the largest successful crypto hack ever.

Despite the failure to stop the Lazarus Group, onchain FCUs look to create a more secure onchain environment for institutions and DeFi users alike.

“Tether is deeply committed to maintaining the integrity of the financial ecosystem by collaborating with over 280 law enforcement agencies globally,” said Tether CEO Paolo Ardoino.

“Reaching the USD 300 million milestone demonstrates the real-world impact of blockchain technology in combating financial crime. We’ve consistently backed that belief with action, working closely with global law enforcement agencies to monitor transactions and disrupt criminal activity, and we’ll continue working closely with partners worldwide to ensure stablecoins remain a force for transparency and security,” he concluded.

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