The T3 Financial Crime Unit (T3 FCU), initially established by TRON, Tether, and TRM Labs in September 2024, has launched an expanded global collaborator program called "T3+". This initiative aims to bolster public-private collaboration to combat illicit activities within the blockchain space. Binance has joined T3+ as its first official member.
Since its launch, T3 FCU has frozen over $250 million in illicit assets globally. This includes nearly $6 million frozen in a coordinated effort with Binance via T3+ to thwart a "pig butchering" scam. Pig butchering is a type of fraud where scammers build trust with victims before convincing them to invest in fake cryptocurrency schemes.
The T3 FCU has been working with law enforcement agencies worldwide to identify and disrupt criminal networks. It has analyzed millions of transactions across five continents, monitoring over $3 billion in total volume. T3+ aims to improve monitoring capabilities, speed up communications and collaboration, and enhance the ability to address illicit activity across the blockchain industry.
Nils Andersen-Röed, Global Head of the Financial Intelligence Unit at Binance, referred to the effort as "proactive collaboration". Paolo Ardoino, CEO of Tether, stated that freezing over $250 million in illicit assets in less than a year demonstrates what is possible when the industry comes together with a shared goal.
In January 2025, T3 reported that it had frozen $130 million worth of USDT, meaning the group's total nearly doubled in eight months. TRM Labs reported earlier this year that illicit crypto volume decreased by 24% since 2023, reaching $45 billion, which represents just 0.4% of overall crypto transactions.
Other Crypto Crime Enforcement Efforts
While the T3+ initiative represents a collaborative effort, government agencies have also been actively involved in combating cryptocurrency-related crimes.
However, in April 2025, the U.S. Department of Justice (DOJ) disbanded its National Cryptocurrency Enforcement Team (NCET). Deputy Attorney General Todd Blanche stated that the DOJ is not a digital assets regulator. The DOJ's Market Integrity and Major Frauds Unit also ceased cryptocurrency enforcement to focus on other priorities. This decision aligns with the Trump administration's support for the crypto industry and aims to reduce the regulatory burden of potential crypto crime investigations. The DOJ will now focus on prosecuting conduct that victimizes investors, such as misappropriation of customer funds, scams, hacks, and rug pulls, and pursue crypto cases involving transnational criminal organizations, terrorist organizations, and cartels.
In June 2025, the U.S. Attorney's Office filed a civil forfeiture complaint against more than $225.3 million in cryptocurrency linked to cryptocurrency investment fraud schemes. The U.S. Secret Service and the FBI used blockchain analysis to connect the cryptocurrency to the theft and laundering of funds from victims.
In the past, the U.S. DOJ has taken action, such as the seizure of $3.6 billion worth of bitcoin in connection with the 2016 hack of Bitfinex.
These efforts reflect the ongoing focus on combating cryptocurrency-related crime and protecting investors.
