T3 FCU Has Frozen Over $300 Million in Illicit Funds

Why It Matters

The FCU aims to bolster security for institutions and DeFi users by continuously monitoring and disrupting criminal activity.

Summary

T3 Financial Crime Unit (FCU), a joint effort by Tether, Tron and TRM Labs, reported freezing more than $300 million in illicit on‑chain assets since its September 2024 launch, highlighted by a cooperation with Brazil's Federal Police to seize 4.3 million USDT tied to a money‑laundering scheme. The unit also noted that despite its successes, it could not prevent North Korea’s Lazarus Group from laundering $1 billion of stolen funds from the $1.5 billion Bybit hack. Tether CEO Paolo Ardoino emphasized the partnership with over 280 law‑enforcement agencies to protect the stability of the crypto ecosystem. The FCU aims to bolster security for institutions and DeFi users by continuously monitoring and disrupting criminal activity.