Tron, Tether and TRM Labs Start Financial Crime Fighting Force!

A 2023 report from TRM Labs showed that the #Tron blockchain was home to nearly 45% of all illicit crypto volume. Now, the blockchain founded by Justin Sun is working with TRM Labs and USDT issuer Tether in a task force created to fight financial crime.

“TRON originated with the belief that technology can be used for good and to empower people across the globe,” Sun said in a release. “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.”

$ETH $SOL $BTC

The task force, the T3 Financial Crime Unit (T3 FCU), will combat illicit activity involving $USDT , the largest stablecoin, on Tron. Data from Tether shows there’s $60.7 billion of USDT issued on Tron, $53.9 billion on the #Ethereum blockchain and $712 million on #Solana .

#TRM Labs data showed hackers looted #Crypto valued at $1.38 billion between Jan. 1 and June 24, more than double the $657 million during the same period a year ago.

Top attack vectors in 2024 include private key and seed phrase compromises.

The largest heist so far this year netted more than $300 million worth of bitcoin from Japanese crypto exchange DMM #Bitcoin