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Tron, Tether, and TRM Labs have announced the creation of the T3 Financial Crime Unit (T3 FCU), a new initiative aimed at fighting illicit activity in the cryptocurrency space. The partnership, focused on public-private collaboration, seeks to improve security within the Tron blockchain and reduce the misuse of its tether (USDT) stablecoin. Crypto Giants Tron, … Read more
Tron, the largest network for the USDT stablecoin, will provide its technical expertise to identify and freeze illicit USDT transactions within the new financial crime unit. Go to Source
A recent TRM Labs report reveals that crypto ATMs have processed at least $160 million in illicit transactions since 2019, with 2023 alone seeing over $30 million directed to known scam addresses. The rate of illicit activity at crypto ATMs is double that of the overall crypto industry, standing at 1.2% of total volume. Global … Read more
The number of new crypto ATMs in Australia has surged 17 times over the past two years, but TRM Labs has warned about their use in scams, fraud, and crime. Go to Source
A major payments firm in Cambodia, Huione Pay, received over $150,000 in cryptocurrency from a digital wallet used by the North Korean hacking group Lazarus, according to blockchain data reviewed by Reuters. The crypto was sent to Huione Pay between June 2023 and February 2024 from a wallet linked to funds stolen from Atomic Wallet, … Read more
A report issued by TRM Labs indicated that Tether’s USDT, the largest stablecoin in the cryptocurrency industry, was the preferred stablecoin used for illicit transactions during 2023. TRM Labs alleges that 1.6% of USDT’s volume was linked to illicit activity last year, with $19.3 billion worth of USDT used in illegal transactional flows. TRM Labs … Read more
TRM Labs estimates that North Korean hackers have stolen $200 million of cryptocurrency in 2023 alone. Go to Source
Blockchain intelligence platform TRM Labs revealed that USDT on the Tron network is the primary choice for transactions among ISIS affiliates across Asia. Go to Source Powered by WPeMatico
While fiat channels remain the dominant tool for criminal financing, Bitcoin appears to have fallen out of favor for criminals as far as cryptocurrencies go. Go to Source Powered by WPeMatico
The technology advisory committee aims to assist the CFTC in “identifying and understanding the impacts and implications of technological innovation in financial services and markets.” Go to Source Powered by WPeMatico
