đ TRON DAO, the decentralized organization behind the TRON blockchain, announced that the newly formed T3 Financial Crimes Unit (T3 FCU) Task Force has already frozen over $12 million USDT linked to illicit activities.
In a September 16 post on X , TRON DAO stated:
âWhile others have taken no action, the T3 Financial Crimes Unit, in collaboration with law enforcement, has frozen over $12 million USDT on TRON linked to illicit activities.â
While no further details were provided, the organization emphasized that this proactive action builds trust and strengthens the crypto industry by ensuring better security.
Last week, TRON DAO launched a task force in partnership with TRM Labs and stablecoin issuer Tether to combat financial crimes involving USDT, the largest stablecoin, on the blockchain. Data from Tether reveals that nearly half of the $118 billion USDT supply is hosted on the TRON blockchain, with around 39% on Ethereum.
Circle faces scrutiny
The development comes as Circle has faced criticism for its delay in blacklisting a wallet linked to the North Korean-backed Lazarus group.
On September 14, blockchain investigator ZachXBT accused Circle of prioritizing profit over the health of the crypto ecosystem. He noted that Circle took more than four months longer than other major stablecoin issuers to blacklist funds linked to the Lazarus group.
He also alleged that the company allowed money laundering through its platform while portraying itself as a protector of the compliant ecosystem.
ZachXBT said:
â[Circle] was never blacklisted after a DeFi exploit/hack when there was plenty of time while [they] continued to profit from the transactions.â
According to CryptoSlate data, Circleâs USDC is the second-largest stablecoin in the industry, with a market cap of around $35 billion.
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