A new initiative aimed at combating illicit activity in the cryptocurrency space has just gotten a major boost. Binance, a leading global exchange, has joined forces with the T3 Financial Crime Unit (T3 FCU) to enhance its efforts against cybercrime and money laundering. This collaboration marks a significant step forward in tackling the rapidly evolving landscape of crypto crime.
Launched in September 2024, T3 FCU is a public-private partnership dedicated to disrupting illicit blockchain transactions. Since its inception, it has successfully frozen over $250 million in cryptocurrency assets linked to criminal activity, demonstrating its effectiveness in tackling the financial crimes that plague the industry.
The unit’s progress comes amidst a wave of sophisticated hacking attacks targeting cryptocurrencies. A recent report by Global Ledger highlights the alarming trend of increasingly rapid and successful hacks. In the first half of 2025, over $3 billion was stolen from the crypto world, with hackers able to move funds in mere minutes, often before law enforcement can even react.
However, T3 FCU’s collaboration with Binance will significantly enhance its capabilities. This expansion aims to improve real-time response to threats and facilitate a more coordinated effort to combat crypto crimes worldwide.
The rise of stablecoins has also raised questions about the power of issuers to freeze funds associated with illicit activity. Tether, for example, froze nearly $86,000 in stolen USDt last month, sparking debate about the appropriate balance between user sovereignty and the need to deter criminal actors.
The collaboration between T3 FCU and Binance represents a significant step towards creating a safer and more secure cryptocurrency ecosystem.