Spanish Authorities Freeze $26.4 Million in Crypto Linked to European Money Laundering Network

Spanish authorities, in collaboration with Tether, TRON, and TRM Labs, have successfully frozen $26.4 million in cryptocurrency assets linked to a European money laundering network. The operation, carried out by the T3 Financial Crime Unit (T3 FCU) and Spain’s Guardia Civil, marks a significant milestone in the fight against cryptocurrency-related crime.

The Investigation and Asset Freeze

According to a press release, the T3 FCU, a team backed by TRON, Tether, and TRM Labs, worked closely with Spain’s Guardia Civil to track down crypto addresses linked to the criminal organization. The investigation revealed that the group had laundered millions of dollars, converting cash into cryptocurrency for illicit purposes.

“Criminals are drawn to the same features that make blockchain revolutionary… but we’re showing that TRON’s transparency actually makes it harder, not easier, to launder money.”

said Justin Sun, founder of TRON.

How the Operation Was Carried Out

The regulator used a combination of surveillance, investigative tools, and exchange Know-Your-Customer (KYC) records to link the funds to money laundering. The criminal organization was found to have “moved millions across borders,” although specifics were not provided.

T3 FCU’s Efforts in Fighting Crypto Crime

The T3 Financial Crime Unit was created to combat illegal activity involving USDT on the TRON blockchain. The unit monitors over $3 billion in USDT transactions worldwide and has helped authorities freeze over $126 million linked to illicit activity across five continents. This operation marks the biggest asset freeze since the launch of T3 FCU in 2024.

Industry Reaction

Tether chief executive Paolo Ardoino praised the operation, stating that it is a “testament to the power of blockchain” in fighting crime. He warned criminals that “those who attempt to misuse Tether will get caught.”

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