The Spanish government has just announced the arrest of 23 individuals and the seizure of $26.4 million thanks to the support from the T3 Financial Crime Unit (T3 FCU). This is the largest bust of T3 to date, dismantling a transnational financial crime network in Europe.

The Largest Arrest by T3 FCU

According to a statement from the T3 Financial Crime Unit, this organization has helped Spanish authorities freeze $26.4 million related to a European financial crime organization. This is noted as the largest asset seizure the group has participated in since its inception last year. To date, T3 has frozen $126 million.

International Criminal Network

This criminal organization is believed to operate in multiple European countries, providing money laundering services from cash to cryptocurrency for criminal groups. The Spanish Guardia Civil police discovered this criminal group through surveillance measures and the KYC (Know Your Customer) records of virtual asset service providers.

Public-Private Collaboration

T3 is an alliance of organizations such as Tron, Tether, and TRM Labs, with close coordination between law enforcement agencies and private companies. Chris Janczewski, the head of the investigative team at T3, stated that this combination leverages the strengths of both sides: law enforcement brings traditional experience while the private sector contributes the technical expertise needed in crypto investigations.

Support from Tether

Paolo Ardoino, CEO of Tether, stated that the company has collaborated with over 220 law enforcement agencies across more than 51 jurisdictions to freeze over 2,400 addresses worth nearly $2.2 billion USDT. This collaboration has helped authorities address cryptocurrency-related cases more effectively.

International Criminal Organization

According to Europol, this criminal group mainly consists of Ukrainian citizens, along with some individuals of Armenian, Azerbaijani, and Kazakh descent.

This arrest is a prime example of effective cooperation between the public and private sectors in the global fight against financial crime.