Tron, Tether, and blockchain intelligence firm TRM Labs say their joint financial crime unit has blocked over $250 million in illicit crypto assets since its launch less than a year ago — and is now expanding its network with Binance as its first new member.
According to a recent announcement, the T3 Financial Crime Unit (T3 FCU), unveiled in September 2024 as a public-private partnership, targets illegal blockchain transactions ranging from money laundering to terrorism financing. The latest figure marks more than double the $100 million frozen in its first six months.
To broaden its scope, the partners have introduced “T3+,” a program inviting exchanges, financial institutions, and industry stakeholders worldwide to share intelligence and coordinate real-time responses to threats. Tron founder Justin Sun said the move would
“expand collaboration across the blockchain industry to address illicit activity in real time.”
The initiative comes amid a surge in sophisticated crypto hacks. A report from Swiss blockchain analytics firm Global Ledger estimates over $3 billion was stolen in the first half of 2025, with laundering often completed within hours — and in some cases, minutes. The report noted that only 4.2% of stolen assets were recovered during that period, with centralized exchanges facing a 10- to 15-minute window to block suspicious transfers before funds vanish.
While advocates say T3 FCU’s track record and Binance’s participation could improve recovery rates, critics warn that stablecoin issuers’ ability to freeze funds at the smart contract level risks undermining decentralization. The debate resurfaced last month after Tether froze $86,000 in stolen USDT.
Tether CEO Paolo Ardoino defended the practice, arguing that blockchain transparency leaves “bad actors with nowhere to hide” and that collective action is key to building a safer crypto ecosystem.
Just recently, North Korean threat actors ramped up a sophisticated campaign of cyber theft targeting the cryptocurrency industry, using fake identities and remote job scams to infiltrate firms and siphon off millions of dollars in digital assets.
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