In advance of measures to combat financial crimes, Tron, Tether, and TRM Labs have made significant progress in freezing illegal crypto assets. In this context, the T3+ program has been announced.
Freezing of Illegal Assets
According to recent data, the joint effort of Tron, Tether, and TRM Labs has frozen over $250 million in illegal crypto assets since the launch of its financial crime unit less than a year ago. This figure has more than doubled the amount of $100 million frozen in the first six months of operation.
Expansion of T3+ Program
As part of its expansion activities, the partnership announced the T3+ program, which invites exchanges, financial institutions, and other market participants worldwide to share intelligence and coordinate real-time responses to threats.
Criticism and Defense of the Initiative
While some advocates believe that T3 FCU's track record and Binance's participation could improve recovery rates, critics note that stablecoin issuers’ ability to freeze funds at the smart contract level risks undermining decentralization principles. Meanwhile, Tether CEO Paolo Ardoino defended this practice, arguing that blockchain transparency leaves 'bad actors' nowhere to hide.
With recent attacks on the crypto industry, it’s crucial that efforts against financial crimes and the direction of joint programs continue to evolve to ensure user and asset safety.
