Tron, Tether and Chainalysis announce crime task force

Tron, Tether and blockchain analytics firm Chainalysis have announced a Digital Crime Task Force to identify suspicious activity involving Tether’s USDT stablecoin on the Tron blockchain and help authorities trace and freeze illicit funds. The initiative’s planned work includes sharing intelligence and coordinating faster action against wallets suspected of criminal activity.

The companies said the task force will prioritize investment and romance scams, cryptocurrency theft, terrorist financing and North Korean cyber operations. Its announcement describes intended work, but the partners have not reported specific asset freezes or enforcement cases completed by the new group.

Chainalysis will provide blockchain analytics, while Tron operates the network and Tether issues USDT. Tether can freeze tokens at identified addresses. The partners say the initiative is intended to shorten the time between detecting suspicious transactions and taking action, as funds can move through multiple wallets and services while investigators trace them.

The launch follows the reported end of the T3 Financial Crime Unit, an earlier initiative involving Tron, Tether and analytics firm TRM Labs. The...