PANews reported on January 2 that according to CoinDesk, the T3 Financial Crimes Fighting Unit (T3 FCU) jointly established by Tether, TRON and TRM Labs has frozen a total of 100 million USDT used by illegal actors since its establishment in September 2024.
T3 involves TRM Labs using its blockchain intelligence and monitoring tools to help Tron and Tether identify and freeze USDT associated with illicit activity. With nearly $60 billion in USDT issued on the Tron blockchain, the largest issuance is second only to Ethereum, which has just over $75 billion in issuance.
Chris Janczewski, global head of investigations at TRM Labs, said money laundering services are the largest source of frozen funds; investment scams, illegal drugs, terrorist financing, extortion scams, hacker attacks, vulnerability exploits and even violent crimes have also become targets. As much as $3 million of the frozen USDT is related to North Korea, which has been actively trying to infiltrate crypto projects to raise funds for the country's leadership. The U.S. Treasury Department announced in December that it had shut down North Korea's money laundering network.
