Spanish authorities, in collaboration with the T3 Financial Crime Unit, have frozen $26.4 million in cryptocurrency tied to a European money laundering network.
The T3 Financial Crime Unit, a task force backed by TRON, Tether, and blockchain analytics firm TRM Labs, worked alongside Spain’s Guardia Civil to track down digital assets linked to the criminal organization.
The Unit’s investigators that the network laundered millions of dollars by converting cash into cryptocurrency to facilitate illicit activities across borders.
According to a Guardia Civil spokesperson, the joint operation leveraged blockchain surveillance tools, investigative methods, and exchange-based KYC records to identify and seize the funds.
TRON founder Justin Sun acknowledged that the case highlights a key challenge in the crypto space, stating,
“Criminals are drawn to the same features that make blockchain revolutionary — speed, efficiency, and borderless transactions. But by freezing over USD 26 million through coordinated action with law enforcement, we’re showing that TRON’s transparency actually makes it harder, not easier, to launder money”
Chris Janczewski, head of global investigations at TRM Labs, emphasized the importance of collaboration in tackling financial crime, noting,
“Financial crime has historically thrived in the gaps between jurisdictions. What’s groundbreaking about T3 FCU is how it mirrors the borderless nature of blockchain itself—combining TRM’s global analytics capabilities with TRON’s expansive network and Tether’s market insights to support law enforcement wherever crime occurs.”
The T3 Financial Crime Unit was established to combat illegal activities involving USDT on the TRON blockchain, monitoring more than $3 billion in transactions globally.
This $26.4 million seizure marks the unit’s largest single asset freeze since its inception in 2024. To date, the task force has assisted authorities in freezing over $126 million in illicit crypto funds across five continents.
Tether CEO Paolo Ardoino emphasized blockchain’s role in law enforcement, warning criminals that
“The freezing of the assets demonstrates Tether’s commitment to clamping down on illicit actors and its zero-tolerance approach towards money laundering and financial crime. Let this serve as a clear warning — criminals who attempt to misuse Tether will get caught.”
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