January 27, 2025 – The T3 Financial Crime Unit (T3 FCU), a joint initiative from TRON, Tether, and TRM Labs, worked with Spain’s Guardia Civil to freeze USD 26.4 million linked to a sophisticated money laundering operation. The investigation targeted blockchain addresses connected to an international criminal network.
According to Spanish authorities, the organization operated across multiple European jurisdictions, providing cash-to-crypto laundering services for criminal enterprises. The operation represents T3 FCU’s largest coordinated freeze since its launch last year.
“This operation exposes an uncomfortable truth: Criminals are drawn to the same features that make blockchain revolutionary — speed, efficiency, and borderless transactions. But by freezing over USD 26 million through coordinated action with law enforcement, we’re showing that TRON’s transparency actually makes it harder, not easier, to launder money.” said Justin Sun, founder of the TRON blockchain.
Spanish authorities identified the organization through police surveillance, and were assisted by several investigative measures and Virtual Asset Service Provider (VASP) Know Your Customer (KYC) records, definitively linking the addresses to money laundering purposes.
“This organization moved millions across borders, using both cash and crypto to help criminal groups launder their profits,” said a Guardia Civil spokesperson. “Working with T3 FCU, we were able to freeze more than USD 26.4 million in assets. This partnership gives law enforcement powerful new capabilities in our fight against organized crime.”
The case highlights the growing importance of public-private partnerships in securing digital assets, particularly as stablecoins become increasingly central to global finance.
“This operation is a testament to the power of blockchain technology in combating illicit activities,” said Paolo Ardoino, CEO of Tether. “As the issuer of USDT, we are committed to protecting the integrity of the financial system and working with global law enforcement to expose and dismantle criminal networks. The freezing of the assets demonstrates Tether’s commitment to clamping down on illicit actors and its zero-tolerance approach towards money laundering and financial crime. Let this serve as a clear warning — criminals who attempt to misuse Tether will get caught. To date, Tether has also collaborated with more than 220 law enforcement agencies across more than 51 jurisdictions to freeze more than 2,400 addresses amounting to approximately 2.2 billion USDT.”
“Financial crime has historically thrived in the gaps between jurisdictions,” said Chris Janczewski, head of global investigations at TRM Labs.” What’s groundbreaking about T3 FCU is how it mirrors the borderless nature of blockchain itself — combining TRM’s global analytics capabilities with TRON’s expansive network and Tether’s market insights to support law enforcement wherever crime occurs.” Through its collaboration with law enforcement agencies across five continents, T3 FCU has frozen over USD 126 million linked to illicit activities since launch. The unit combines TRM Labs’ blockchain intelligence technology with TRON and Tether’s commitment to ecosystem security to identify and disrupt criminal activity worldwide.
