• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Crypto Experts Unveil Beacon Network for Rapid Freezing of Criminal Funds

user avatar

by Giorgi Kostiuk

an hour ago


A coalition of crypto exchanges, payment firms, law enforcement agencies, and security researchers has unveiled a new initiative — the Beacon Network.

What is the Beacon Network?

The Beacon Network is a new initiative aimed at tracing and freezing cryptocurrency associated with crime in real time. Launched by TRM Labs, it is described as the industry’s first 'end-to-end kill chain for illicit crypto assets.'

Who is Behind the Beacon Network?

Founding members of the Beacon Network include major crypto exchanges such as Coinbase, Binance, and Kraken, as well as payment giant PayPal and notable security researchers like ZachXBT and the Security Alliance (SEAL). TRM Labs reported that federal law enforcement agencies worldwide are actively contributing by flagging addresses linked to critical threats.

How the Network Aids in Fighting Crypto Crime?

The Beacon Network enables verified members to flag suspicious wallet addresses and send automatic alerts when such funds hit exchanges or services. The project has already been successfully used to trace and freeze fraudulent funds amounting to over $1.5 million.

The Beacon Network aims to address the shortcomings in responding to crypto crime, allowing for rapid tracking and blocking of criminal activities. This is expected to improve outcomes against hackers and scammers.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Microsoft to End Discount Offers on Services for Enterprise Clients

chest

Microsoft has announced the discontinuation of discounts on Microsoft 365 subscriptions, potentially increasing costs for enterprise clients.

user avatarGiorgi Kostiuk

BNB's All-Time High: Cryptocurrency Approaches $900

chest

BNB hits a new all-time high near $880, potentially exceeding $900 due to institutional investments and token burns.

user avatarGiorgi Kostiuk

Coinbase's Prediction: Bitcoin Could Hit $1 Million by 2030

chest

Coinbase CEO Brian Armstrong believes Bitcoin could reach $1 million by 2030, citing its limited supply and growing adoption.

user avatarGiorgi Kostiuk

Bitget Adds SAPIEN Token for Spot Trading

chest

Bitget announces the launch of the SAPIEN/USDT trading pair in its Innovation Zone, providing users access to decentralized data.

user avatarGiorgi Kostiuk

Bitcoin at $115K: What’s Next?

chest

Bitcoin has retraced to $115K, raising concerns and interest among investors. An analysis of market dynamics and possible future scenarios.

user avatarGiorgi Kostiuk

Toyota Announces Mobility Orchestration Network Project Based on Avalanche

chest

Toyota has announced the Mobility Orchestration Network project, turning vehicles into tradeable financial assets on global markets.

user avatarGiorgi Kostiuk

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.