Tether, TRON, and TRM Labs jointly established a private financial crime department to combat crypto crime.

According to ChainCatcher news, Tether, TRON, and TRM Labs announced today that they have joined forces to establish the T3 Financial Crimes Unit (T3 FCU), a groundbreaking initiative aimed at promoting public-private collaboration to combat illegal activities associated with the use of USDT on the TRON blockchain.

This novel collaboration brings together the anti-financial crime expertise of leading blockchain intelligence firm TRM Labs, the technical expertise of leading global blockchain and DAO TRON, and the external investigation team of Tether, the largest company in the digital asset industry, with the goal of creating a safer and more reliable crypto community for everyone.

In the weeks since its launch, the program has worked with law enforcement to assist in freezing over $12 million in funds related to ransomware scams, investment fraud schemes, and more. Police are aware of at least 11 victims affected by these scams and hope to identify more victims as the investigation unfolds.