Tron, Tether, and TRM Labs have formed the T3 Financial Crime Unit to combat illicit activity involving USDT on the Tron blockchain. The Tron blockchain was home to nearly 45% of all illicit crypto volume in a 2023 report from TRM Labs.

The task force, the T3 Financial Crime Unit (T3 FCU), will focus on fighting financial crime related to USDT, the largest stablecoin, on the Tron blockchain. Data shows there's $60.7 billion of USDT issued on Tron, compared to $53.9 billion on Ethereum and $712 million on Solana.

The T3 FCU has already frozen $12 million in USDT tied to blackmail scams and investment fraud. TRM Labs will use its intelligence suite to help Tron and Tether analyze blockchain activity and detect suspicious patterns.

"TRON originated with the belief that technology can be used for good and to empower people across the globe," said Tron founder Justin Sun. "By collaborating with TRM Labs and Tether, TRON is helping to ensure that blockchain technology is used to make our world a better place, and sends a clear message that illicit activity is not welcome in our industry."

Source: https://www.coindesk.com/business/2024/09/10/tron-tether-and-trm-labs-start-financial-crime-fighting-force/

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