TRON DAO, the decentralized organization behind the TRON blockchain, has announced that its newly established T3 Financial Crime Unit (T3 FCU) has frozen over $12 million worth of USDT related to illegal activities.
In a September 16 post on X, TRON DAO announced :
“When others failed to act, the T3 Financial Crime Unit, in cooperation with law enforcement agencies, froze over $12 million worth of USDT on TRON related to illegal activities.”
While not providing further details, the organization stressed that this proactive action strengthens trust and progress in the crypto industry by ensuring better security.
Last week, TRON DAO launched a task force in partnership with TRM Labs and stablecoin issuer Tether to combat financial crimes involving USDT, the largest stablecoin, on the blockchain . Data from Tether revealed that nearly half of USDT ’s total supply of $118 billion is stored on the TRON blockchain, with about 39% on Ethereum .
Circle faces scrutiny
The development comes as Circle faces criticism for its delayed action in blacklisting a wallet linked to the North Korean-run Lazarus group.
On September 14, blockchain investigator ZachXBT accused Circle of prioritizing profits over the health of the crypto ecosystem. He pointed out that Circle took more than four months longer than other major stablecoin issuers to blacklist funds associated with the Lazarus group.
He further claimed that the company enables money laundering through its platform while still presenting itself as a compliance guardian of the ecosystem.
ZachXBT said :
Not once has Circle blacklisted a DeFi exploit/hack given enough time while they continued to profit from the transactions.
Circle 's USDC is the second-largest stablecoin in the industry, with a market Capital of around $35 billion, according to CoinMarketCap data.
