Tether, TRON, and TRM freeze $26 million in European money laundering crackdown
The T3 Financial Crime Unit (T3 FCU) has frozen $26.4 million in cryptocurrency linked to a European money laundering operation, marking a significant achievement since its formation in August 2024. The operation, in collaboration with Spain’s Guardia Civil, involved converting illicit cash into crypto, facilitating cross-border fund movement while obscuring illegal origins. Advanced surveillance tools, blockchain analytics, and KYC data were utilized to trace the network's activities. T3 FCU has frozen over $126 million in criminal assets globally. TRON founder Justin Sun highlighted blockchain's transparency as a deterrent to crime, while Tether CEO Paolo Ardoino emphasized the company's commitment to combating financial crime and supporting law enforcement efforts. Tether has assisted over 220 agencies and frozen 2,400 wallets containing approximately $2.2 billion in USDT.
