Binance, the world’s largest cryptocurrency exchange, has taken a significant step in the fight against illicit activity on the blockchain by joining T3+, a global collaboration program dedicated to combating crimes in the digital space. Through its participation in T3+, Binance has contributed to its first successful case, assisting in freezing nearly $6 million linked to a pig-butchering scam.
T3+ was launched by TRON, Tether, and TRM Labs through the T3 Financial Crime Unit (T3 FCU) with the aim of identifying and disrupting blockchain-related crimes in real-time. Since its inception in September 2024, T3 FCU has frozen over $250 million in illicit assets, working closely with law enforcement agencies across five continents. By becoming a part of T3+, Binance is enhancing its monitoring capabilities and working towards building a more transparent crypto sector.
Nils Andersen-Röed, Binance’s global head of the Financial Intelligence Unit, emphasized the importance of collaboration in ensuring the long-term success and credibility of blockchain. He stated, “This partnership reflects our dedication to proactive collaboration with industry partners and law enforcement.”
In a recent blog post, Binance revealed its involvement in T3+’s first successful case, where partners successfully froze nearly $6 million associated with a pig-butchering scam. This coordinated effort highlights the value of real-time intelligence sharing and collective action in combating cybercriminal activities. Binance’s swift response not only aided in recovering stolen funds but also served as a deterrent to potential fraudsters.
By actively protecting 7.5 million users from almost $10 billion in potential fraud between December 2022 and May 2025, Binance has demonstrated the significance of robust detection systems and collaborative partnerships like T3+.
T3 FCU operates as a joint industry initiative focused on monitoring blockchain transactions, detecting suspicious activities, and working in tandem with law enforcement to freeze criminal assets. The group has analyzed millions of transactions totaling more than $3 billion in volume, dismantling criminal operations across borders. T3+ is now welcoming more exchanges, financial institutions, and blockchain service providers into its network.
Chris Janczewski, head of global investigations at TRM Labs, highlighted the effectiveness of public-private partnerships like T3+, stating that they have proven to be scalable and efficient when working closely with law enforcement agencies.
The unified push for a safer crypto space by players from Tether, TRON, and TRM Labs underscores the importance of industry-wide cooperation in combating blockchain crime effectively. Paolo Ardoino, CEO of Tether, emphasized the power of collaboration by freezing over $250 million in illicit assets in less than a year, while Justin Sun, founder of TRON, highlighted the expanded scope of user protection through real-time collaboration.
In addition to its participation in T3+, Binance has partnered with Spain’s BBVA to offer clients independent custody of their digital assets. This strategic move aims to rebuild investor trust following regulatory fines and industry challenges. BBVA, Spain’s third-largest bank, now serves as an independent custodian for Binance, further enhancing the security and transparency of digital asset transactions.
As Binance continues to strengthen its compliance and security measures, including advanced threat detection and engagement with regulators, the exchange remains committed to fostering blockchain innovation alongside trust, security, and transparency. The collaboration with T3+ and BBVA signifies Binance’s dedication to creating a safer and more secure environment for digital asset transactions.
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