Tether and Tron Quietly Scrapped T3 Crime Unit Two Months Before $6.3 Billion Binance Hack
By Micah Zimmerman
AI summary of the source article
The T3 Financial Crime Unit, formed by Tron, Tether, and TRM Labs, quietly shut down in late August amid coordination issues. The closure occurred approximately two months before Binance suffered a record $6.34 billion hack on October 29.
Why it matters
"The timing matters because the shutdown predates the largest theft in crypto history. Binance put its Oct. 29 loss at $6.34 billion, and blockchain analysis firms have linked the attack to North Korea."
Key facts
- Tron, Tether, and TRM confirmed the T3 initiative wound down in late August following reported coordination issues and slow response times.
- Prior to closing, T3 had frozen more than $450 million in illicit assets and worked with authorities across 23 jurisdictions.
- The shutdown predated Binance's $6.34 billion hack on October 29, which blockchain analysis firms linked to North Korea.
Source excerpt · Bitcoin Magazine
Bitcoin Magazine Tether and Tron Quietly Scrapped T3 Crime Unit Two Months Before $6.3 Billion Binance Hack The T3 Financial Crime Unit, which said it froze more than $450 million in illicit USDT with authorities in 23 jurisdictions, wound down in late August. This post Tether and Tron Quietly Scrapped T3 Crime Unit Two Months Before $6.3 Billion Binance Hack first appeared on Bitcoin Magazine and…