More than $300 million worth of cryptocurrency linked to cybercrime and fraud schemes has been frozen due to two separate initiatives involving law enforcement and private companies.
Over $300 million in cybercrime crypto seized in anti-fraud effort
One initiative is the T3+ Global Collaborator Program launched by the T3 Financial Crime Unit (T3 FCU), a joint effort deployed almost a year ago by intelligence firm TRM Labs, TRON, and Tether, with Binance joining as the first official member - all major forces in the blockchain space.
- According to intelligence firm TRM Labs, more than $250 million in criminal assets worldwide have been frozen since the program started in September 2024
- This includes a notable $6 million frozen in a joint action with Binance against perpetrators of ‘romance baiting’ scams.
“Since its inception in September 2024, T3 FCU has worked closely with law enforcement agencies worldwide to identify and disrupt criminal networks,” reads TRM Labs' announcement.
“The unit has analyzed millions of transactions across five continents, monitoring over $3 billion USD in total volume,” the company states.
- Since its launch, T3 FCU has assisted law enforcement agencies around the world into investigations on money laundering, investment fraud, extortion, terrorism financing, and other serious financial crimes.
The second initiative is a joint operation between the United States and Canada, supported by blockchain intelligence experts at Chainalysis.
2 "Operation Avalanche” led by the British Columbia Securities Commission (BCSC), both entities relying on analytics from Chainalysis to trace scam proceeds.
Source: Chainalysis
According to the blockchain data platform, these investigations have uncovered in the past six months more than $74.3 million in losses linked to various types of fraud, leading to the freezing of large portions of these amounts.
“Driven from Canada but truly global in scope, Project Atlas identified more than 2,000 crypto wallet addresses linked to fraud victims across 14 countries, including Canada, the US, Australia, Germany, and the UK,” explains Chainalysis in a press release today.
“Working directly with Tether, we enabled the blacklisting of more than $50 million in USDT, preventing scammers from moving or liquidating these stolen assets,” the company states.
The two initiatives pair coordinated investigation sprints with structured global collaboration to detect and intervene at the blockchain level, significantly hindering cyber criminals from moving or spending scam proceeds.
 |
Picus Blue Report 2025 is Here: 2X increase in password cracking
46% of environments had passwords cracked, nearly doubling from 25% last year.
Get the Picus Blue Report 2025 now for a comprehensive look at more findings on prevention, detection, and data exfiltration trends.
“Working directly with Tether, we enabled the blacklisting of more than $50 million in USDT, preventing scammers from moving or liquidating these stolen assets,” the company states.
The two initiatives pair coordinated investigation sprints with structured global collaboration to detect and intervene at the blockchain level, significantly hindering cybercriminals from moving or spending scam proceeds.
Picus Blue Report 2025 is Here: 2X increase in password cracking
46% of environments had passwords cracked, nearly doubling from 25% last year.
Get the Picus Blue Report 2025 now for a comprehensive look at more findings on prevention, detection, and data exfiltration trends.
Bill Toulas
Bill Toulas is a tech writer and infosec news reporter with over a decade of experience working on various online publications, covering open-source, Linux, malware, data breach incidents, and hacks.-
New Whitepaper: The Evolution of Phishing Attacks
Modern phishing has changed a lot in the past decade or so. The most sophisticated attacks — the ones that usually hit the headlines in the form of major breaches — come with a host of anti-analysis and obfuscation techniques making them increasingly difficult to detect.
Get the whitepaper to learn about modern phishing detection evasion techniques and how to counteract them.
-
Crypto24 ransomware hits large orgs with custom EDR evasion tool
The Crypto24 ransomware group has been using custom utilities to evade security solutions on breached networks, exfiltrate data, and encrypt files.
- August 14, 2025
- 01:53 PM
0
-
Pro-Russian hackers blamed for water dam sabotage in Norway
The Norwegian Police Security Service (PST) says that pro-Russian hackers took control of critical operation systems at a dam and opened outflow valves.
- August 14, 2025
- 12:01 PM
- 0
-
Microsoft fixes Windows Server bug causing cluster, VM issues
Microsoft has resolved a known issue that triggers Cluster service and VM restart issues after installing July's Windows Server 2019 security updates.
- August 14, 2025
- 11:05 AM
- 0
-
Booking.com phishing campaign uses sneaky 'ん' character to trick you
Threat actors are leveraging a Unicode character to make phishing links appear like legitimate Booking.com links in a new campaign distributing malware. The attack makes use of the Japanese hiragana character, ん, which can, on some systems, appear as a forward slash and make a phishing URL appear realistic to a person at first.
- August 14, 2025
- 10:23 AM
- 1
-
When Theft Replaces Encryption: Blue Report 2025 on Ransomware & Infostealers
Ransomware and infostealers are winning on stealth, not encryption. Picus Blue Report 2025 reveals just 3% of data exfiltration attempts are stopped. Find and fix your biggest exposure gaps before they're exploited.
- August 14, 2025
- 10:01 AM
- 0
Canada’s House of Commons investigating data breach after cyberattack
The House of Commons of Canada is currently investigating a data breach after a threat actor reportedly stole employee information in a cyberattack on Friday.
- August 14, 2025
- 09:06 AM
- 0
-
These $50 open-box Onn tablets are a great deal for work on the go
If you just need a basic tablet to handle the everyday stuff, like streaming, emails, light browsing, and the occasional video call, there's no reason to overspend. The onn. 10.1″ Tablet is a simple, reliable option for people who want functionalityIf you just need a basic tablet to handle the everyday stuff, like streaming, emails,
- August 14, 2025
- 07:08 AM
- 0
Leak: OpenAI's browser will use ChatGPT Agent to control the browser
OpenAI is building an agentic future with its upcoming Chromium-based browser and a new leak confirms GPT Agent integration.
- August 14, 2025
- 06:45 AM
- 0
-
CISA warns of N-able N-central flaws exploited in zero-day attacks
CISA warned on Wednesday that attackers are actively exploiting two security vulnerabilities in N‑able's N-central remote monitoring and management (RMM) platform.
- August 14, 2025
- 05:15 AM
- 0
-
Microsoft fixes Windows 11 24H2 updates failing with 0x80240069 error
Microsoft has resolved a known issue preventing the August 2025 Windows 11 24H2 cumulative update from being delivered via Windows Server Update Services (WSUS).
- August 14, 2025
- 03:41 AM
- 1
-
Google Gemini's Deep Research is finally coming to API
Google Gemini's one of the most powerful features is Deep Research, but up until now, it has been strictly limited to the Gemini interface. This could change soon.
- August 13, 2025
- 09:01 PM
- 0
-
OpenAI relaxes GPT-5 rate limit, promises to improve the personality
OpenAI is slowly addressing all concerns around GPT-5, including rate limits and now its personality, which has been criticized for being less affirmative.
- August 13, 2025
- 06:22 PM
- 0
-
Fortinet warns of FortiSIEM pre-auth RCE flaw with exploit in the wild
Fortinet is warning about a remote unauthenticated command injection flaw in FortiSIEM that has in-the-wild exploit code, making it critical for admins to apply the latest security updates.
- August 13, 2025
- 04:23 PM
- 0
-
Windows 11 24H2 updates failing again with 0x80240069 errors
The KB5063878 Windows 11 24H2 cumulative update, released earlier this week, fails to install on some systems according to widespread reports from Windows administrators.
- August 13, 2025
- 03:41 PM
- 0
-
New downgrade attack can bypass FIDO auth in Microsoft Entra ID
Security researchers have created a new FIDO downgrade attack against Microsoft Entra ID that tricks users into authenticating with weaker login methods, making them susceptible to phishing and session hijacking.
- August 13, 2025
- 03:14 PM
- 1
-
Deal: Get FutureMoney Pro for $100 and a $100 bonus to invest
With a FutureMoney Pro Lifetime Subscription, parents get a powerful tool to invest in their kids' dreams and get rewarded for it. When you sign up and make a qualifying contribution, you'll receive a $100 bonus investment to jumpstart your journey, making the lifetime subscription free.
- August 13, 2025
- 02:08 PM
- 0
-
Spike in Fortinet VPN brute-force attacks raises zero-day concerns
A massive spike in brute-force attacks targeted Fortinet SSL VPNs earlier this month, followed by a switch to FortiManager, marked a deliberate shift in targeting that has historically preceded new vulnerability disclosures.
- August 13, 2025
- 12:42 PM
- 0
-
Pennsylvania attorney general's email, site down after cyberattack
The Office of the Pennsylvania Attorney General has announced that a recent cyberattack has taken down its systems, including landline phone lines and email accounts.
- August 13, 2025
- 12:25 PM
- 0
Post a Comment Community Rules
You need to login in order to post a comment