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A collective of crypto and traditional finance firms, law enforcement and security researchers has formed a new “crypto crime response network” — known as the Beacon Network — to identify and freeze illicit funds on the blockchain.
TRM Labs on Wednesday said the “Beacon Network” creates “an unprecedented level of industry collaboration to block off-ramps for criminal funds.”
At least $47 billion has been sent to fraud-related addresses since 2023, according to new data from TRM Labs, though the number is likely to be far…
