Summary
- The T3 Financial Crime Investigation Team announced that it has frozen illegal funds amounting to 100 million USDT.
- T3 analyzed transactions across five continents, freezing 100 million dollars out of 3 billion USDT.
- Chris Janczewski of TRM Labs explained that the high transparency of blockchain is unsuitable for money laundering.
The T3 Financial Crime Investigation Team, established by the TRON (TRX) blockchain, stablecoin issuer Tether (USDT), and blockchain intelligence firm TRM Labs, announced that it has frozen illegal funds amounting to 100 million USDT since September.
According to a report by CoinDesk on the 2nd (local time), T3 stated in a press release, "We analyzed millions of transactions across five continents. The total transaction amount reached 3 billion USDT, and using TRM Labs' intelligence monitoring tools, we froze funds related to illegal activities amounting to 100 million dollars."
Chris Janczewski, Global Head of Investigations at TRM Labs, explained, "Blockchain provides too much transparency to be suitable for money laundering. We can verify victim reports on public blockchains and identify other victims."
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