Binance Joins T3+ Crime-Fighting Alliance, Freezes $6M in First Pig Butchering Case

Binance, the world’s largest cryptocurrency exchange, has become a member of T3+, a new global collaboration program dedicated to fighting illicit activity on the blockchain, and has contributed to its first successful case, helping freeze nearly $6 million linked to a pig-butchering scam.

Launched by TRON, Tether, and TRM Labs through the T3 Financial Crime Unit (T3 FCU), T3+ seeks to identify and disrupt blockchain-related crimes in real time.

Through T3+, the #T3FCU will work more closely with exchanges, financial institutions, and other stakeholders to improve monitoring capabilities, speed communications and collaboration, and multiply the ability to address illicit activity more effectively across the entire… pic.twitter.com/pLYpKfAKbw

Since its inception in September 2024, T3 FCU has frozen more than $250 million in illicit assets, working with law enforcement across five continents. By joining T3+, Binance said it is working with its security operations to expand monitoring and build a more transparent crypto sector.

“This partnership reflects our dedication to proactive collaboration with industry partners and law enforcement,” said Nils Andersen-Röed, Binance’s global head of the Financial Intelligence Unit. “Collaboration is essential to ensuring blockchain’s long-term success and credibility.”

In a blog post, Binance said it has contributed to T3+’s first successful case. In a coordinated cross-industry and law enforcement effort, the partners froze nearly $6 million linked to a pig-butchering scam—a type of fraud that uses social engineering to lure victims into fraudulent crypto investments.

The case demonstrates the value of real-time intelligence sharing and collective action. Binance said its involvement not only aided the recovery of stolen funds but also reinforced the deterrent effect of fast, coordinated responses against cybercriminals.

Between December 2022 and May 2025, Binance reported helping to protect 7.5 million users from nearly $10 billion in potential fraud, showing the scale and importance of robust detection systems and partnerships like T3+.

T3 FCU is a joint industry initiative designed to monitor blockchain transactions at scale, detect suspicious activity, and work directly with law enforcement to freeze criminal assets.

So far, the group has analyzed millions of transactions totaling more than $3 billion in volume, dismantling operations across borders. T3+ said it is welcoming more exchanges, financial institutions, and blockchain service providers into its network.

Chris Janczewski, head of global investigations at TRM Labs, said that “novel public-private partnerships like T3+ are proving scalable and effective through close collaboration with law enforcement across jurisdictions.”

Players from Tether, TRON, and TRM Labs agree that industry-wide cooperation is the only way to address blockchain crime effectively.

“Freezing over $250 million in illicit assets in less than a year is a powerful testament to what’s possible when the industry comes together,” said Paolo Ardoino, CEO of Tether.

Justin Sun, founder of TRON, added that “real-time collaboration expands the scope of what’s possible to protect users worldwide.”

For Binance, the T3+ partnership is part of a broader compliance and security strategy, which includes advanced threat detection, freeze-and-recovery protocols, and deeper engagement with regulators.

The exchange says it will continue strengthening these measures to ensure blockchain innovation can thrive alongside trust, security, and transparency.

Binance is also working with Spain’s BBVA to offer clients independent custody of their digital assets. The arrangement is a move by Binance to rebuild investor trust following its record $4.3 billion fine by U.S. regulators in 2023 and the broader industry fallout from the collapse of FTX.

BBVA, Spain’s third-largest bank, has recently begun serving as an independent custodian for Binance.

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