According to PeckShieldAlert, losses from crypto hacks and exploits accounted for over $120 million in losses during September 2024.
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Tron, Tether, and TRM Labs have announced the creation of the T3 Financial Crime Unit (T3 FCU), a new initiative aimed at fighting illicit activity in the cryptocurrency space. The partnership, focused on public-private collaboration, seeks to improve security within the Tron blockchain and reduce the misuse of its tether (USDT) stablecoin. Crypto Giants Tron, […]
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Tron, the largest network for the USDT stablecoin, will provide its technical expertise to identify and freeze illicit USDT transactions within the new financial crime unit.
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A report issued by TRM Labs indicated that Tether’s USDT, the largest stablecoin in the cryptocurrency industry, was the preferred stablecoin used for illicit transactions during 2023. TRM Labs alleges that 1.6% of USDT’s volume was linked to illicit activity last year, with $19.3 billion worth of USDT used in illegal transactional flows. TRM Labs […]
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Attackers of this kind are supposedly “big game hunting” large-scale organizations with deep pockets to extract ”the most money possible” out of these firms.
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According to reports on social media, a number of users have complained that FTX has blocked a transaction that was associated with the Aztec Network’s zkmoney privacy technology. Following the accusations, FTX CEO Sam Bankman-Fried explained that transactions are monitored for AML compliance but it “does not mean any accounts were frozen.” Journalist Wu Blockchain […]
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