Tether's T3 Unit Freezes $300 Million in Illicit Crypto Funds

Tether, a leading company in the cryptocurrency sector, has made significant strides in combating crypto-related crime through its T3 Financial Crime Unit. According to CoinMarketCap, the unit has successfully frozen over $300 million in illicit funds in its first year of operation. This milestone marks a substantial effort by Tether and its partners to curb illegal activities within the crypto sphere.

Operation and Impact

The T3 Financial Crime Unit, backed by Tether, TRON network, and analytics firm TRM, has been instrumental in targeting fraud, hacks, and the trade of illicit goods. The unit's operations span 23 jurisdictions, illustrating a broad, coordinated effort to tackle crypto crime on a global scale. Notably, the United States accounted for $83 million of the frozen assets, highlighting the country's significant involvement in these operations.

Global Collaboration

One of the unit's significant contributions was its involvement in Brazil's Operation Lusocoin. This operation led to the seizure of over R$3 billion, including 4.3 million USDT linked to a major money-laundering ring. The collaboration between Tether's T3 unit and Brazilian authorities underscores the importance of international cooperation in addressing the complexities of crypto-related crimes.

Ongoing Efforts

The T3 unit's achievements reflect a broader trend in the cryptocurrency industry towards enhancing security and compliance. As crypto adoption continues to grow, so does the need for robust measures to prevent illicit activities. Tether's proactive approach is setting a precedent for other companies in the sector to follow suit in safeguarding the integrity of digital currencies.

For further information, refer to the press release from Tether.