Two initiatives targeting cryptocurrency-based fraud have led to the freezing of more than $300 million in suspected criminal assets, reports BleepingComputer.
The first initiative, called the T3+ Global Collaborator Program, in which Binance became the inaugural member, was introduced in 2024 by the T3 Financial Crime Unit in collaboration with TRON, TRM Labs, and Tether. Through the tracking of illegal cash across several countries, this network has uncovered schemes involving money laundering, terrorism financing, extortion, investment fraud, and other major crimes. Over $250 million in assets have been recovered as a result of its activities, including millions connected to certain scam schemes. A joint effort between Canada and the United States, together with Chainalysis blockchain intelligence experts, enabled the launch of Operation Avalanche and Project Atlas operations, which identified over 2,000 crypto wallets connected to victims in 14 countries. Working directly with Tether, we enabled the blacklisting of more than $50 million in USDT, preventing scammers from moving or liquidating these stolen assets, said Chainalysis.
The first initiative, called the T3+ Global Collaborator Program, in which Binance became the inaugural member, was introduced in 2024 by the T3 Financial Crime Unit in collaboration with TRON, TRM Labs, and Tether. Through the tracking of illegal cash across several countries, this network has uncovered schemes involving money laundering, terrorism financing, extortion, investment fraud, and other major crimes. Over $250 million in assets have been recovered as a result of its activities, including millions connected to certain scam schemes. A joint effort between Canada and the United States, together with Chainalysis blockchain intelligence experts, enabled the launch of Operation Avalanche and Project Atlas operations, which identified over 2,000 crypto wallets connected to victims in 14 countries. Working directly with Tether, we enabled the blacklisting of more than $50 million in USDT, preventing scammers from moving or liquidating these stolen assets, said Chainalysis.
