TLDR
Binance has joined the T3 Financial Crime Unit as its first exchange partner.
Tron, Tether, and analytics firm TRM Labs back the T3 unit.
The unit has frozen more than $250 million in illicit cryptocurrency since its launch.
T3 was launched in September 2024 to work with global law enforcement agencies.
The expansion called T3+ will involve more exchanges and financial institutions.
A blockchain crime-tracking unit backed by Tron, Tether, and TRM Labs has frozen over $250 million in illicit crypto. The T3 Financial Crime Unit, launched in September 2024, collaborates with global law enforcement to stop illegal crypto flows. Binance has now joined as the unit’s first exchange partner under the expansion program T3+.
Binance Becomes First Exchange Partner
Binance will share intelligence with T3 to detect and block suspicious transactions in real time. The company aims to strengthen industry cooperation against crimes such as fraud, blackmail, and terrorism financing. “Proactive collaboration is vital to protect the crypto ecosystem,” said Nils Andersen-Röed, Binance’s global head of financial intelligence.
The T3 Financial Crime Unit reported freezing $130 million by January 2025, and the total has now nearly doubled. Tron founder Justin Sun stated that wider cooperation will help address illicit activity more effectively. Tether CEO Paolo Ardoino said the achievement shows “what’s possible when the industry comes together with a shared goal.”
T3+ will allow exchanges, financial institutions, and stakeholders to act faster against threats. The move highlights how industry leaders, including Binance, are prioritizing coordinated action. This initiative follows an increase in sophisticated crypto hacking incidents this year.
Scale of Illicit Activity and Industry Response
Global Ledger reported over $3 billion stolen in the first half of 2025 through various breaches. Criminals are laundering assets faster, with some cases completed within three minutes of theft. Recovery rates have dropped to just 4.2%.
Around 15% of illicit crypto still passes through centralized exchanges like Binance. Compliance teams usually have less than 15 minutes to stop the movement of stolen funds. Stablecoin issuers such as Tether can freeze tokens directly at the contract level to block these transactions.
Tether recently froze $86,000 in stolen USDT, sparking renewed debate about centralization. Critics warn of potential risks, while supporters emphasize its role in preventing losses. Since its launch, T3 has monitored more than $3 billion in suspicious transactions globally.
TRM Labs earlier noted illicit crypto volumes fell 24% in 2024 to $45 billion. Tron saw the largest drop, down $6 billion year-on-year. Binance’s participation signals a growing willingness among major platforms to take proactive enforcement roles.
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