T3 FCU, a group made up of Tron, Tether and TRM Labs, helped Spanish authorities freeze $ 26.4 million used in a cryptographic money laundering operation.
Although the police have not mentioned any arrest in this case, this collaboration still managed to exhibit and financially hamstring a large international crime network.
T3 FCU decreases to Crypto Crime
In recent months, the T3 (FCU) financial crimes has become a popular name in cryptographic security. The unit actively faced several high -level cases. The group formed last September from an alliance of Tron, Tether and Trm Labs, and it froze a money laundering of $ 100 million this month.
According to a new report, the group has helped the Spanish authorities to turn off a similar ring this week.
“This [criminal] The organization has moved millions through borders, using both money and crypto to help criminal groups whiten their profits. By working with T3 FCU, we were able to freeze more than $ 26.4 million in assets. This partnership gives the law forces new capacities in our fight against organized crime, “said a spokesperson for Guardia Civil.
This criminal group worked in several European countries, but the public-private partnership between the Spanish police and the T3 FCU successfully followed its operations.
TRM Labs is a large blockchain intelligence platform, constantly following large cryptographic crimes and advising various law enforcement organizations. As part of the T3 unit, Trm Labs probably provides critical cryptographic assets whitewashed by Intel to Tether and Tron.
In recent months, Tether has actively accelerated the anti-money laundering efforts. The Stablecoin giant has coordinated several major law enforcement organizations to show compliance with LMA policies.
Tether followed and frozen several major cryptography scams long before the creation of T3 FCU. In the press release, CEO Paolo Ardoino said Tether was particularly attached to financial integrity because the USDT is an integral part of the global cryptography trade.
“If you use USDT on a tron for crime, you will be caught,” said Tron Justin Sun founder earlier this month.
Although Tron is one of the most popular networks, its inclusion in the T3 unit seems questionable. Its founder, Justin Sun, has faced dry charges in 2023, and several failed projects seriously damaged the company’s reputation.
Nevertheless, Sun said that the transparency of a tron ”makes it more difficult, not easier, to whiten money” and showed a strong commitment to the initiative to combat T3 crime.
Anyway, this episode was another victory for T3 FCU. The Spanish authorities have managed traditional police surveillance techniques, while cryptographic companies have searched the blockchain data alongside VASP and KYC files.
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