The Spanish authorities have commended the T3 Financial Crime Unit, which consists of Tron, Tether, and TRM Labs, for assisting in the takedown of a multinational European financial crime syndicate. The syndicate offered cash-to-crypto laundering services to criminal enterprises in various European jurisdictions. T3 has frozen $26.4 million and a total of $126 million so far. The collaboration between law enforcement and the private sector in cryptocurrency investigations has proven effective, leveraging their respective strengths. The organization was identified through police surveillance and the use of Virtual Asset Service Provider Know Your Customer records. Tether has collaborated with over 220 law enforcement agencies across 51 jurisdictions to freeze over 2,400 addresses, equivalent to nearly 2.2 billion USDT. The organized crime syndicate primarily involved Ukrainian nationals but also individuals from Armenia, Azerbaijan, and Kazakhstan.



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