- The Spanish authorities are freezing $ 26.4 million of crypto -related encryption using the T3 financial crime unit.
- TRM LABS reveals that 58 % of illegal encryption transactions occur on TON Blockchain.
- Tether’s Usdt is still the most used assets for encryption crime, with $ 225 million in 2023.
With the help of Blockchain Tron, Tether and TRM LABS companies, the Spanish authorities have seized $ 26.4 million of money related to the European money laundering process. This is part of a larger plan to address financial crimes by applying encrypted currency in the battle, namely cooperation in the T3 financial crime unit.
Process It was identified Governor associated with illegal activities from monitoring and services provides know customer information (KYC). The Financial Crime Unit, which was established by the Labs TRON, Tether and TRM in August 2024 in determining and freezing assets. As Guardia CIVIL, the criminal organization has been transporting millions of dollars across the international border, whether cash or in encrypted currencies.
Blockchain companies support law enforcement against encryption crimes
The T3 Financial Crime Unit remains important in combating financial crimes by monitoring cryptocurrencies and procedures. In its first year of its work, this unit seized $ 126 million of cryptocurrencies related to criminal activities. By analyzing Blockchain data and using special tools, the unit helps the police to determine the source of the money.
TRM LABS also determined that 58 % of illegal activities use Tron Blockchain, while half of the illegal activities based on Tron linked to the approved entities. According to researchers, the USDT of Tether is the most used digital currency in criminal activities due to its central structure that allows exporters to freeze illegal transactions. It is worth noting that Tether stopped $ 225 million of its assets due to fraud in 2023 after the US Department of Justice launched an investigation.
These partnerships between Blockchain companies and law enforcement agencies show industry’s willingness to improve integrity and develop viable solutions to combat increasing financial crime cases. The authorities intend to enhance the effectiveness of crime control worldwide through these partnerships.
Stablecoins and Blockchain transparency in crime control measures
Because of its popularity and liquidity, Stablecoins, such as USDT of Tether and Circle’s Usdc, are especially vulnerable to manipulation. However, these central assets contain preventive techniques to prevent criminal activities. Tether Paolo Ardoino’s CEO stressed the abuse of Tether and that anyone who uses the platform for illegal purposes will face consequences.
Because of the threat changes, some criminal organizations have adopted other measures to counter the application of the law. Huione Luste and other platforms for money laundering were created to prevent freezing money.
However, Blockchain companies continue to strive to ensure that their networks are not at risk in any way. By improving security measures and cooperation with the police, they seek to prevent the use of encrypted currencies for criminal activities.
