đ TRM Labs launches a service to help police freeze stolen crypto in minutes
Blockchain analytics firm TRM Labs has launched Beacon Concierge, a managed service that lets any verified law enforcement agency work with exchanges and stablecoin issuers to seize illicit funds on any chain. It runs on the Beacon Network, whose 200+ members cover about 80% of crypto trading volume. TRM says the service has already supported 15 cases for 14 agencies in 10 countries, freezing more than $35 million. In tracing the Binance hack, the network labeled over 26,000 addresses across 14 blockchains.
â With $8.78 billion lost to hacks this year according to DefiLlama, faster cross-platform freezes could make it harder for attackers to cash out and help recover more stolen funds.
#Crypto #Security #Hack #Stablecoins #TRMLabs
Blockchain analytics firm TRM Labs has launched Beacon Concierge, a managed service that lets any verified law enforcement agency work with exchanges and stablecoin issuers to seize illicit funds on any chain. It runs on the Beacon Network, whose 200+ members cover about 80% of crypto trading volume. TRM says the service has already supported 15 cases for 14 agencies in 10 countries, freezing more than $35 million. In tracing the Binance hack, the network labeled over 26,000 addresses across 14 blockchains.
â With $8.78 billion lost to hacks this year according to DefiLlama, faster cross-platform freezes could make it harder for attackers to cash out and help recover more stolen funds.
#Crypto #Security #Hack #Stablecoins #TRMLabs
