News list for "Trm"
Spanish law enforcement has teamed up with blockchain firms Tron, Tether and TRM Labs to freeze $26.40 million cryptocurrency linked to a pan-European money laundering operation. The operation is in partnership with the T3 Financial Crimes Unit, an anti-crime initiative launched by three blockchain companies in August 2024. The investigation relies on police surveillance to identify criminal organizations. Its crypto wallets are linked to illegal activities, using "KYC" data from service provide...
The T3 Financial Crimes Unit (T3 FCU), formed by Tether, TRON and TRM Labs, has frozen a total of 100 million USDTs used by illegal actors since its inception in September 2024. T3 involves TRM Labs using its blockchain intelligence and surveillance tools to help Tron and Tether identify and freeze USDT linked to illegal activity. At nearly $60 billion, USDT issued on the Tron blockchain is the largest issuance after Ethereum, which has a circulation of just over $75 billion.
According to a recent report by TRM Labs, crypto ATMs are more vulnerable to fraud and money laundering due to weak KYC and AML protocols, having handled at least $160 million in illicit funds since 2019 to date. In 2023 alone, the proportion of illegal transactions at crypto ATMs reached 1.2% of their total transaction volume, while the proportion of illegal transactions in the entire crypto ecosystem was only 0.63%. The report also revealed that more than $30 million of illicit funds in 2023 w...
A new report by blockchain analytics firm TRM Labs shows that the cash-to-crypto industry, dominated by cryptocurrency ATMs, has handled at least $160 million in illegal transactions since 2019. In 2023, up to $30 million in illegal transfers through cash-to-crypto services to known fraudulent addresses accounted for 79%. The report points out that law enforcement authorities around the world are increasingly concerned about the growth of crypto ATM use. Recently, German financial regulator BaFi...
TRM Labs has disclosed that it has assisted Argentine law enforcement agencies in the arrest of a Russian citizen who is understood to be involved in a multi-million dollar money laundering operation. The 29-year-old alleged offender accepted cryptocurrency benefits from illegal actors, including the hacking group Lazarus Group. In addition, the suspect also used the Telegram robot to exchange rubles, USDT, euros and dollars into Argentine pesos. During the arrest, the police seized more than $1...
