Crypto Giants Form New Crime Task Force After Previous One Collapses

Joint Task Force Targets USDT Crime on Tron Blockchain

Tron, Tether, and blockchain analytics firm Chainalysis have joined forces in a new initiative aimed at identifying and disrupting criminal activities involving the USDT stablecoin. The announcement comes just weeks after a similar alliance, which included a different analytics partner, reportedly dissolved.

The newly formed Digital Crime Task Force, unveiled on Wednesday, will focus on pinpointing illicit transactions of Tether’s USDT on the Tron blockchain. The stated goal is to alert law enforcement to such activities before criminals can abscond with their ill-gotten gains.

This initiative represents a shift from a reactive to a proactive approach. Instead of relying on victim reports or investigators flagging suspicious funds, the task force intends to actively trace criminal networks and coordinate asset freezes. This will be facilitated by Chainalysis’s intelligence capabilities and AI-powered investigative tools. The group will also accept tips and freeze requests directly from law enforcement agencies.

“Criminals are using AI to move faster than ever, and waiting for a victim to report a crime is no longer good enough,” stated Tether CEO Paolo Ardoino. He noted that Tether has already frozen over $7 billion linked to illicit activities and has collaborated with more than 360 law enforcement agencies across 73 countries.

Tron founder Justin Sun emphasized the initiative’s role in protecting the millions who depend on USDT, which has a significant presence on the Tron network, with over $94 billion in circulation.

A significant aspect of this new alliance is its predecessor. Tron and Tether previously operated a similar unit, the T3 Financial Crime Unit, established in 2024 with rival analytics firm TRM Labs and later joined by Binance. This group reportedly froze more than $450 million in illicit assets.

However, Bloomberg reported earlier this month that the T3 unit was quietly disbanded in late August. Sources familiar with the matter cited slow response times and a lack of coordination among its members as reasons for its collapse. The disbandment became public just days before the record $6.4 billion Binance hack.

The decision to replace TRM Labs with Chainalysis is notable, given the intense competition between the two analytics firms. Chainalysis has previously engaged in legal action against the U.S. government over a contract awarded to TRM Labs by ICE without competitive bidding, highlighting the ongoing rivalry within the crypto crime-fighting sector.

The new task force plans to address a wide spectrum of threats, including romance and investment scams, stolen funds, terrorist financing, North Korean cyber operations, cartel money laundering, and child exploitation material.

The group also framed the effort in anticipation of a future where autonomous AI agents conduct on-chain transactions, warning that this development could create new opportunities for criminal exploitation.