Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 12762
Markets: 99573
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
12762
Cryptocurrencies
58.66%
Bitcoin Share
The Coin Rise 2025-02-02 10:10:38

Spanish Authorities Freeze $26.4M in Crypto Linked to European Money Laundering Ring

Spanish Authorities Freeze $26.4M in Crypto Linked to European Money Laundering Ring

Spanish law enforcement, in collaboration with blockchain networks Tron and Tether, alongside analytics firm TRM Labs, successfully froze $26.4 million in cryptocurrency connected to a sprawling money laundering network across Europe. The mission was executed under the T3 Financial Crime Unit (T3 FCU), established in August 2024 to target illicit blockchain-based financial activities . Coordinated Efforts Uncover Laundering Network The probe, described as the largest asset freeze to date by the T3 FCU, relied heavily on cutting-edge investigative methods. Police surveillance combined with blockchain analytics and Know Your Customer (KYC) records from virtual asset service providers allowed authorities to trace and link several wallets to criminal activities. A spokesperson for Spain’s Guardia Civil noted, “This organization moved millions across borders, using both cash and cryptocurrency to help criminal groups launder their profits.” The case underscores how criminals, drawn to blockchain’s speed and borderless nature, are finding it harder to evade detection due to increasing transparency. Tron founder Justin Sun echoed this sentiment in an X post, stating, “While criminals may be attracted to blockchain for its efficiency, this operation shows that transparency ultimately makes money laundering more difficult, not easier.” The coordinated efforts led to the freezing of funds totaling over $26 million. The T3 FCU’s crackdown adds to its ongoing efforts, which have frozen over $100 million in illicit funds since its creation. Despite these measures, the Tron network remains a primary target for illegal transactions. A TRM Labs analysis revealed that 58% of blockchain criminal activity occurs on Tron, with 32% involving illicit funds. Tether Supporting Global Authorities Nonetheless, proactive security measures have reportedly reduced illicit transaction volumes by $6 billion. Tether, whose USDT stablecoin is a preferred asset for unlawful transfers, remains at the forefront of combating these threats. Paolo Ardoino, Tether’s CEO, reiterated the company’s dedication to supporting global authorities in disrupting financial crime. “Let this serve as a clear warning—criminals who attempt to misuse Tether will get caught,” Ardoino declared. He highlighted the company’s collaboration with over 220 law enforcement agencies in 51 countries, which has led to freezing more than 2,400 addresses holding $2.2 billion. Tether’s past actions include freezing $108 million worth of USDT linked to the notorious “pig butchering” romance scam and locking Ethereum wallets containing over $3.5 million in December 2023. This latest freeze underscores the evolving role of blockchain firms in fighting financial crime. The post Spanish Authorities Freeze $26.4M in Crypto Linked to European Money Laundering Ring appeared first on TheCoinrise.com .

Most Read News



Cryptohopper
Market Cap
24h Vol
58.66%
Bitcoin Share
263
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.