A crime-fighting coalition formed by prominent crypto companies has frozen more than $100 million USDT worth of assets in a bid to ice out criminals from their networks. 

The T3 Financial Crime Unit co-led by Tether, Tron, and TRM Labs is working directly with law enforcement agencies worldwide to “identify and disrupt criminal networks,” the coalition said Thursday in a statement. Their goal is to ensure bad actors cannot exploit stablecoins such as Tether, which criminals have co-opted to launder their ill-gotten gains. 

“T3 FCU’s ability to work closely with law enforcement worldwide to effectively disrupt cybercriminals from using USDT on TRON is a proof of concept for public-private partnerships,” Chris Janczewski, head of global investigations at TRM Labs, said in a statement.

The T3 Financial Crime Unit has monitored over $3 billion USDT in total volume since last August, analyzing millions of transactions across five continents. All told, the group said it has worked with local law enforcement agencies to freeze some $126 million worth of the asset.

Millions of people worldwide use stablecoins—which are backe

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Author: Liz Napolitano

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