Spanish Authorities Collaborate with T3 Financial Crime Unit to Dismantle Major European Crime Syndicate
In a remarkable achievement, Spanish authorities have credited the T3 Financial Crime Unit—a consortium formed by Tron, Tether, and TRM Labs—for their pivotal role in dismantling a sprawling multinational European financial crime syndicate. This criminal organization was allegedly engaged in cash-to-crypto laundering services that catered to various illicit enterprises operating across multiple jurisdictions in Europe.
According to Spain’s Guardia Civil, the T3 consortium successfully seized a staggering $26.4 million, marking this operation as the most significant coordinated asset freeze conducted by T3 since its inception last year. To date, the group has reported freezing a total of $126 million in suspicious assets.
“Public-private partnerships are particularly effective in cryptocurrency investigations because they leverage our distinct but complementary strengths,” stated Chris Janczewski, head of investigations at TRM Labs, in an email correspondence with CoinDesk. He elaborated, “Law enforcement brings their traditional expertise to the investigation, while the private sector contributes the technical capabilities essential for conducting thorough crypto investigations.”
Spanish law enforcement officials identified the syndicate through meticulous police surveillance, supplemented by various investigative techniques and Virtual Asset Service Provider (VASP) Know Your Customer (KYC) records, as outlined in the release from T3. “We have a specialized team that can fluently navigate both ‘crypto’ and ‘cop’ languages, which includes former law enforcement personnel with extensive backgrounds from multiple agencies,” Janczewski added. “This unique expertise has allowed us to enhance on-the-ground operations by agencies like the Guardia Civil, enabling them to correlate on-chain activities with real-world actions.”
Furthermore, in a statement, Paolo Ardoino, CEO of Tether, highlighted the company’s commitment to collaboration, noting that Tether has partnered with over 220 law enforcement agencies across more than 51 jurisdictions. This collaboration has resulted in the freezing of more than 2,400 addresses, amounting to nearly 2.2 billion USDT.
Europol’s release emphasized that the organized crime syndicate primarily comprised individuals of Ukrainian descent, but it also included nationals from Armenia, Azerbaijan, and Kazakhstan, showcasing the extensive international connections of this criminal network.
