$26.4 million frozen in Spain

Spanish authorities, in collaboration with Tron, Tether, and TRM Labs, have frozen $26.4 million worth of cryptocurrencies linked to a European money laundering network.

The operation was part of the efforts of the Financial Crimes Unit (T3 FCU), which was established in August 2024 to combat illegal activities.

Justin Sun stressed that criminals are exploiting the advantages of blockchain such as speed and transparency, but cooperation with authorities has shown how it can be regulated and facilitate the process of tracking and freezing digital assets.

The Tron network contributed to reducing illicit transactions by $6 billion, despite continuing to represent 58% of criminal activity in the sector.

Tether also froze more than $2.2 billion across 2,400 suspicious addresses, with USDT continuing to be the most used asset in illicit transactions.

Posted using Tribaldex Blog