Tether and Tron Dismantled Anti-Crime Unit Before Binance Hack

The T3 Financial Crime Unit, a joint initiative between Tether and Tron, was reportedly shut down in late August. The unit claimed to have frozen over $450 million in illicit USDT in 23 jurisdictions. The timing of the unit's dismantling raises questions about the effectiveness of the initiative and the extent to which it was integrated into the companies' overall risk management strategies.