26 March, 2025 – T3 Financial Crime Unit (T3 FCU), the pioneering collaboration between Tether, TRON and TRM Labs, today announced the successful freezing of $9 million connected to the recent Bybit hack, the largest cryptocurrency theft in history.
“T3 FCU is reshaping how the industry responds to illicit activity—enabling cross-border collaboration with a level of speed and precision we haven’t seen before,” said Justin Sun, Founder of TRON. “In today’s blockchain environment, bad actors can no longer operate with impunity. If you’re abusing the system, accountability is not a matter of if—but when.”
“Tether remains unwavering in its commitment to stopping illicit actors in their tracks,” said Paolo Ardoino, CEO of Tether. “Through T3 FCU, we are demonstrating that bad actors have fewer and fewer places to hide. By working closely with our partners and global law enforcement, we’re ensuring that stablecoin technology is not only transformative—but also secure, transparent, and resilient against exploitation.”
Ari Redbord, Global Head of Policy at TRM Labs, added: “Speed and precision are everything in crypto investigations. As rogue actors get faster and more daring, T3 is a model for how we can disrupt financial crime at the speed of the internet. By combining real-time intelligence with rapid coordination and interdiction, we were able to trace and freeze illicit funds from the Bybit hack—showing what’s possible when collaboration meets capability.”
Launched in September of 2024, T3 FCU has—in just over six months’ time—frozen over $150 million in criminal assets across five continents, quickly cementing its role as the global leader in crypto crime prevention. The Bybit news marks only the latest T3 FCU success story, following on the heels of recent success working alongside Spain’s Guardia Civil—a $26.4 million freeze linked to a sophisticated money laundering operation across multiple European jurisdictions.
For more information about T3 FCU and its initiatives, follow @T3_FCU on X.
About T3 Financial Crime Unit (T3 FCU)
T3 FCU is a first-of-its-kind private-sector initiative launched by Tether,, TRON and TRM Labs in September 2024 to combat illicit activities on the blockchain. This groundbreaking public-private partnership works directly with law enforcement agencies worldwide to identify and disrupt criminal networks. Since its inception, T3 FCU has frozen over $150 million in criminal assets across five continents, established rapid response capabilities to address threats, and demonstrated how industry collaboration can effectively combat financial crime while supporting blockchain innovation.
