The security detail matters more than the headline.
The $6.3 billion Binance hack sent shockwaves through the crypto industry. The $1.5 billion hack of Bybit in February 2025 was attributed to the same group. Ari Redbord, TRM Labs’ global head of policy and government affairs, told Cointelegraph that although the industry’s coordinated response to the attack was unprecedented, “we are only going to see much more of this.” Unprecedented response from the industry The speed and scale of industry’s response to the hack were among the factors that stood out to Redbord. TRM’s Redbord explained that the Beacon Network, an intelligence-sharing system TRM launched in 2025, allowed companies to coordinate quickly to immobilize the funds before working to seize them. 4 that the T3 Financial Crime Unit, which TRM formed with Tron and Tether in September 2024, disbanded in late August, with sources citing slow responses and poor coordination.
The $6.3 billion Binance hack sent shockwaves through the crypto industry. The $1.5 billion hack of Bybit in February 2025 was attributed to the same group. Ari Redbord, TRM Labs’ global head of policy and government affairs, told Cointelegraph that although the industry’s coordinated response to the attack was unprecedented, “we are only going to see much more of this.” Unprecedented response from the industry The speed and scale of industry’s response to the hack were among the factors that stood out to Redbord. TRM’s Redbord explained that the Beacon Network, an intelligence-sharing system TRM launched in 2025, allowed companies to coordinate quickly to immobilize the funds before working to seize them. 4 that the T3 Financial Crime Unit, which TRM formed with Tron and Tether in September 2024, disbanded in late August, with sources citing slow responses and poor coordination.