News Heat Trend
Project Overview
TRM is a provider of crypto compliance and risk management solutions that helps financial institutions, cryptocurrency businesses, and public agencies detect, investigate, and manage crypto-related fraud and financial crime. Its risk management platform includes solutions for cryptocurrency anti-money laundering (AML), transaction monitoring and wallet screening, entity risk scoring including Know-Your-VASP, and transaction tracing for investigations. These tools enable a rapidly growing number of organizations around the world to safely embrace cryptocurrency-related transactions, products, and partnerships.
TRM Labs valuation doubles to $2 billion, completes Series C funding round
According to Cointelegraph, blockchain intelligence company TRM Labs saw its valuation double to $2 billion following an upsized Series C funding round led by Blockchain Capital. The company stated that its annual recurring revenue has quadrupled over the past three years.
TRM Labs Valuation Doubles to $2 Billion, Launches New AI Crime Detection Platform
According to Fortune, blockchain forensics startup TRM Labs has announced a new round of follow-on funding from existing investors, with the amount undisclosed. Driven by the rapid growth of its AI business, the company’s valuation has doubled to $2 billion, up from $1 billion six months ago. CEO Esteban Castano stated that the company expects to soon achieve the $100 million annual recurring revenue (ARR) milestone and will officially launch a new AI-powered crime investigation platform designed for law enforcement agencies in November, focusing on AI-driven criminal scenarios such as financial fraud, deepfakes, and child sexual exploitation. Castano emphasized that AI serves as the company's second growth engine rather than a business pivot, with blockchain intelligence remaining the core business pillar. The company currently employs approximately 500 people and maintains offices in London, Singapore, and Washington, D.C.
T3 Financial Crime Unit Freezes Over $450 Million in Illicit Crypto Assets
According to The Block, the T3 Financial Crime Unit (T3 FCU), jointly established by Tether, TRON, and TRM Labs, announced that since its founding in 2024, it has frozen over $450 million worth of illicit crypto assets globally. In 2025, the unit’s interception of illicit proceeds increased by 43.9% year-on-year, covering 23 jurisdictions including the United States, Spain, and Germany, and has been recognized by the Financial Action Task Force (FATF) as “a critical resource for global law enforcement agencies.” The T3 FCU has participated in investigations across multiple crime categories, including exchange hacks, North Korea–related activities, terrorist financing, and violent crimes, and assisted Brazil’s Federal Police in freezing over $5.989 billion in assets—including 4.3 million USDT.
Binance and Coinbase Participate in West African Anti-Fraud Operation, Helping Identify Over $11 Million in Funds Pending Freeze
Odaily report: According to a U.S. Department of Justice announcement, law enforcement authorities in Ghana and Nigeria arrested 28 people in a joint operation targeting West African fraud networks, involving criminal activities such as cryptocurrency investment fraud. The operation was led by the UK's National Crime Agency (NCA), with participation from Binance, Coinbase, and blockchain analytics firms Chainalysis, Elliptic, and TRM Labs. Private-sector partners collectively identified more than $11 million in funds that could potentially be frozen, though the amount has not yet been confirmed as recovered assets.Coinbase stated that it assisted in tracking illicit funds, supporting asset freezes, and providing intelligence to investigators, identifying more than 65 victims still being defrauded and helping prevent over $415,000 in potential losses. During the operation, Ghanaian police arrested 19 people and seized 303 electronic devices, while another 9 people were arrested in Nigeria. Additionally, 117 human trafficking victims in Ghana are awaiting repatriation to Nigeria, and participants also provided law enforcement with leads on more than 30 suspected fraud centers. The U.S. Department of Justice said this was the first joint operation of its kind specifically targeting the West African region. (CoinDesk)
Microsoft Teams Up With Multiple Parties to Dismantle Phishing Network Accepting USDT Payments, Involving Over 75,000 Organizations
According to CryptoSlate, Microsoft and the cybersecurity organization Health-ISAC have obtained a U.S. court order to seize and redirect the domains supporting three services: YAM Store, CoGUI, and Iron Man. These three services sell stolen accounts and phishing tools to fraudsters. Since January this year, they have assisted in sending over 1 billion phishing messages, targeting more than 75,000 institutions across over 150 countries, generating tens of millions of dollars in revenue for operators. Microsoft has disabled more than 20,000 accounts associated with YAM Store and continues to block over 100,000 spoofing and fraudulent domains. According to Microsoft's investigation, these services accept payments in USDT (Tron network) and ETH, with Cloudflare noting that buyers can also pay using USDC. Blockchain analytics firm TRM Labs assisted investigators in locating and freezing related assets, though the frozen amount was not disclosed.
TRM Labs Valuation Doubles to $2 Billion, Launches New AI Crime Detection Platform
According to Fortune, blockchain forensics startup TRM Labs has announced a new round of follow-on funding from existing investors, with the amount undisclosed. Driven by the rapid growth of its AI business, the company’s valuation has doubled to $2 billion, up from $1 billion six months ago. CEO Esteban Castano stated that the company expects to soon achieve the $100 million annual recurring revenue (ARR) milestone and will officially launch a new AI-powered crime investigation platform designed for law enforcement agencies in November, focusing on AI-driven criminal scenarios such as financial fraud, deepfakes, and child sexual exploitation. Castano emphasized that AI serves as the company's second growth engine rather than a business pivot, with blockchain intelligence remaining the core business pillar. The company currently employs approximately 500 people and maintains offices in London, Singapore, and Washington, D.C.
Arbitrum Activates ArbOS 61 Elara Upgrade, Introducing Optional Compliance Filtering and Priority Fee Support for Dedicated Chains
According to The Defiant, Arbitrum officially activated the ArbOS 61 Elara upgrade on August 20, which was approved for deployment via an ArbitrumDAO governance vote. The core features of this upgrade include: introducing an optional protocol-level transaction filtering mechanism for Dedicated Chains, allowing chain owners to independently select external compliance service providers such as TRM Labs and Chainalysis to configure restricted address rules; the filter is disabled by default and does not affect existing Arbitrum One users; adding Priority Fee support, also disabled by default, with its activation on Arbitrum One still requiring a separate DAO constitutional vote; introducing the BaseFeeManager contract, which authorizes Offchain Labs to adjust the L2 minimum Gas fee within a DAO-approved range of 0.01 to 0.10 gwei over a two-year authorization period; additionally, the maximum code size limit for Stylus contracts has been increased from 24 KB to 96 KB, though this does not apply to Solidity contracts.
Chainalysis Files Lawsuit Over ICE Awarding $94.6 Million Contract to TRM Labs
Blockchain analytics company Chainalysis Government Solutions filed a bid protest with the U.S. Court of Federal Claims on July 27, challenging the U.S. Immigration and Customs Enforcement (ICE) award of an approximately $94.6 million blockchain forensics software and support services contract to competitor TRM Labs on a sole-source basis. The contract term is from July 1, 2026 to June 30, 2027, for investigations related to the Homeland Security Special Operations Group.
Chainalysis sues U.S. government over ICE's $94.6 million contract awarded to TRM Labs
blockchain forensics firm Chainalysis Government Solutions filed a bid protest with the U.S. Court of Federal Claims on July 27, opposing the U.S. Immigration and Customs Enforcement's (ICE) decision to award a contract worth approximately $94.6 million to competitor TRM Labs on a sole-source basis. The contract, covering the period from July 1, 2026, to June 30, 2027, involves blockchain forensics software and support services for Homeland Security task forces investigating fraud, cybercrime, and sextortion cases. Chainalysis argues that ICE's decision was arbitrary and unreasonable. TRM Labs joined the case as an intervenor-defendant on July 28, defending the contract alongside the U.S. government. The court has allowed Chainalysis to temporarily seal its complaint, with oral arguments scheduled for September 2. ICE stated that after approximately six days of market research, it determined that none of the eight responding companies could meet the requirements. (Decrypt)
TRM Labs: North Korean Hackers Behind Binance's $6.36 Billion Theft
Blockchain analytics firm TRM Labs attributed the Binance hack to the North Korean hacker group TraderTraitor with high confidence, stating that approximately $6.36 billion in assets were withdrawn from Binance wallets across 10 blockchains.
Analysis: Binance Hack May Inadvertently Halt VC and Project Token Sell-Offs
Odaily reports: Some market observers suggest that following the approximately $6.3 billion hack on Binance, project teams, VCs, and associated wallets may temporarily hold off on selling their altcoin holdings. In the coming days, funds, insiders, and project-affiliated wallets may exercise greater caution before selling tokens into the market to avoid further exacerbating selling pressure.Blockchain analytics firms TRM Labs and Chainalysis have both attributed the attack to North Korea with high confidence. Binance has committed to covering user losses through its protection fund and company resources, and approximately $3 billion in stolen assets have been located, with about half frozen through stablecoin issuers such as Tether and Circle. Market analysts note that the incident has once again sparked discussions around the security of centralized trading platforms, the freezing capabilities of stablecoins, and the difficulty of tracking decentralized assets. (zerohedge)
TRM Labs: North Korean Hackers Behind Binance's $6.36 Billion Theft
Blockchain analytics firm TRM Labs attributed the Binance hack to the North Korean hacker group TraderTraitor with high confidence, stating that approximately $6.36 billion in assets were withdrawn from Binance wallets across 10 blockchains.
Analysis: Binance Hack May Inadvertently Halt VC and Project Token Sell-Offs
Odaily reports: Some market observers suggest that following the approximately $6.3 billion hack on Binance, project teams, VCs, and associated wallets may temporarily hold off on selling their altcoin holdings. In the coming days, funds, insiders, and project-affiliated wallets may exercise greater caution before selling tokens into the market to avoid further exacerbating selling pressure.Blockchain analytics firms TRM Labs and Chainalysis have both attributed the attack to North Korea with high confidence. Binance has committed to covering user losses through its protection fund and company resources, and approximately $3 billion in stolen assets have been located, with about half frozen through stablecoin issuers such as Tether and Circle. Market analysts note that the incident has once again sparked discussions around the security of centralized trading platforms, the freezing capabilities of stablecoins, and the difficulty of tracking decentralized assets. (zerohedge)
Microsoft: 3 North Korean hacking groups have fully integrated AI into attack workflows
According to analysis by US cybersecurity firm TRM Labs, approximately $6.36 billion in funds from 10 Binance blockchain wallets was stolen in roughly 20 minutes. The agency attributes the attack to North Korean group TraderTraitor. It has not yet been confirmed whether AI was used in this attack.
OneKey Founder: IBIT Could Become Target of North Korean Cyberattacks, Coinbase's Single-Custody Model Raises Security Concerns
OneKey founder Yishi issued a warning that as Bitcoin ETF holdings increase, the security risks faced by custodians are also rising, and noted that BlackRock's spot Bitcoin ETF (IBIT) could become a potential target for North Korean hacking groups. The post states that TRM Labs is highly confident the recent Binance security breach is linked to the North Korean hacking group TraderTraitor, which has previously been implicated in the Bybit hack and the DMM Bitcoin theft.
1inch: Blocked addresses related to the Binance attack; some of the stolen assets involve 1INCH.
1inch stated that it has been tracking the Binance security incident and proactively reached out to Binance to provide support. Its risk management team, in collaboration with ZeroShadow, SEAL 911, TRM Labs, and other entities, has already blocked addresses associated with the attack from the 1inch dApp, 1inch Wallet, and 1inch API within the first hour after the incident, and will continue to update the list as new addresses are identified.
Microsoft Teams Up With Multiple Parties to Dismantle Phishing Network Accepting USDT Payments, Involving Over 75,000 Organizations
According to CryptoSlate, Microsoft and the cybersecurity organization Health-ISAC have obtained a U.S. court order to seize and redirect the domains supporting three services: YAM Store, CoGUI, and Iron Man. These three services sell stolen accounts and phishing tools to fraudsters. Since January this year, they have assisted in sending over 1 billion phishing messages, targeting more than 75,000 institutions across over 150 countries, generating tens of millions of dollars in revenue for operators. Microsoft has disabled more than 20,000 accounts associated with YAM Store and continues to block over 100,000 spoofing and fraudulent domains. According to Microsoft's investigation, these services accept payments in USDT (Tron network) and ETH, with Cloudflare noting that buyers can also pay using USDC. Blockchain analytics firm TRM Labs assisted investigators in locating and freezing related assets, though the frozen amount was not disclosed.
1inch: Blocked addresses related to the Binance attack; some of the stolen assets involve 1INCH.
1inch stated that it has been tracking the Binance security incident and proactively reached out to Binance to provide support. Its risk management team, in collaboration with ZeroShadow, SEAL 911, TRM Labs, and other entities, has already blocked addresses associated with the attack from the 1inch dApp, 1inch Wallet, and 1inch API within the first hour after the incident, and will continue to update the list as new addresses are identified.
Binance and Coinbase Participate in West African Anti-Fraud Operation, Helping Identify Over $11 Million in Funds Pending Freeze
Odaily report: According to a U.S. Department of Justice announcement, law enforcement authorities in Ghana and Nigeria arrested 28 people in a joint operation targeting West African fraud networks, involving criminal activities such as cryptocurrency investment fraud. The operation was led by the UK's National Crime Agency (NCA), with participation from Binance, Coinbase, and blockchain analytics firms Chainalysis, Elliptic, and TRM Labs. Private-sector partners collectively identified more than $11 million in funds that could potentially be frozen, though the amount has not yet been confirmed as recovered assets.Coinbase stated that it assisted in tracking illicit funds, supporting asset freezes, and providing intelligence to investigators, identifying more than 65 victims still being defrauded and helping prevent over $415,000 in potential losses. During the operation, Ghanaian police arrested 19 people and seized 303 electronic devices, while another 9 people were arrested in Nigeria. Additionally, 117 human trafficking victims in Ghana are awaiting repatriation to Nigeria, and participants also provided law enforcement with leads on more than 30 suspected fraud centers. The U.S. Department of Justice said this was the first joint operation of its kind specifically targeting the West African region. (CoinDesk)
Microsoft Teams Up With Multiple Parties to Dismantle Phishing Network Accepting USDT Payments, Involving Over 75,000 Organizations
According to CryptoSlate, Microsoft and the cybersecurity organization Health-ISAC have obtained a U.S. court order to seize and redirect the domains supporting three services: YAM Store, CoGUI, and Iron Man. These three services sell stolen accounts and phishing tools to fraudsters. Since January this year, they have assisted in sending over 1 billion phishing messages, targeting more than 75,000 institutions across over 150 countries, generating tens of millions of dollars in revenue for operators. Microsoft has disabled more than 20,000 accounts associated with YAM Store and continues to block over 100,000 spoofing and fraudulent domains. According to Microsoft's investigation, these services accept payments in USDT (Tron network) and ETH, with Cloudflare noting that buyers can also pay using USDC. Blockchain analytics firm TRM Labs assisted investigators in locating and freezing related assets, though the frozen amount was not disclosed.
BlackRock: AI Agents May Drive Demand for Stablecoins and Blockchain Payments
global asset management firm BlackRock has released a research report titled "The Machine-Native Economy," arguing that as AI agents autonomously complete multi-step tasks, demand for onchain programmable payment infrastructure may increase, with stablecoins potentially used for payments and settlement.The report notes that traditional bank accounts and card payment mechanisms are ill-suited for sub-1-cent, round-the-clock machine-to-machine payments. Stablecoins can achieve near-instant settlement without requiring manual account opening or confirmation.BlackRock suggests that computing power could be wrapped into standardized contracts for buying, selling, collateralizing, or automatic settlement on the blockchain. TRM Labs' analysis of $52.7 million in x402 settlements this year shows that AI agents accounted for approximately 0.6% to 7.5% of payment volume. (Decrypt)
TRM Labs Valuation Doubles to $2 Billion, Launches New AI Crime Detection Platform
According to Fortune, blockchain forensics startup TRM Labs has announced a new round of follow-on funding from existing investors, with the amount undisclosed. Driven by the rapid growth of its AI business, the company’s valuation has doubled to $2 billion, up from $1 billion six months ago. CEO Esteban Castano stated that the company expects to soon achieve the $100 million annual recurring revenue (ARR) milestone and will officially launch a new AI-powered crime investigation platform designed for law enforcement agencies in November, focusing on AI-driven criminal scenarios such as financial fraud, deepfakes, and child sexual exploitation. Castano emphasized that AI serves as the company's second growth engine rather than a business pivot, with blockchain intelligence remaining the core business pillar. The company currently employs approximately 500 people and maintains offices in London, Singapore, and Washington, D.C.
1:1 compensation for legitimate holders prior to the vulnerability incident; The Sandbox will reimburse cross-chain SAND using treasury funds
Odaily News, The Sandbox has released a post-mortem report on the August 22 vulnerability incident. The report shows that attackers exploited vulnerabilities in contracts related to cross-chain configurations on Base and BNB Smart Chain (BSC), stealing 14,742,341.84 SAND from the Ethereum treasury, accounting for approximately 0.5% of the maximum supply, with an estimated economic impact of approximately $1.4968 million, of which about $987,000 was actually retained by the attackers. The Ethereum mainnet and Polygon network were not affected. Until further notice, please do not purchase or send SAND on Base or BNB Smart Chain. Contracts deployed on Base and BNB Smart Chain have been permanently deactivated and will not be reopened. The Sandbox stated that the team has reported the attacker's wallet address to blockchain analysis firms TRM Labs and Chainalysis, and has communicated directly with relevant exchanges. The Sandbox also announced a compensation plan, which will compensate wallets that legitimately held cross-chain SAND on Base or BSC prior to the incident at a 1:1 ratio in Ethereum SAND. Compensation funds will come from The Sandbox treasury, with no new tokens issued. The claim process will open within the next two weeks and remain open for two weeks.
Related news
TRM Labs: North Korean Hackers Behind Binance's $6.36 Billion Theft
Blockchain analytics firm TRM Labs attributed the Binance hack to the North Korean hacker group TraderTraitor with high confidence, stating that approximately $6.36 billion in assets were withdrawn from Binance wallets across 10 blockchains.
Analysis: Binance Hack May Inadvertently Halt VC and Project Token Sell-Offs
Odaily reports: Some market observers suggest that following the approximately $6.3 billion hack on Binance, project teams, VCs, and associated wallets may temporarily hold off on selling their altcoin holdings. In the coming days, funds, insiders, and project-affiliated wallets may exercise greater caution before selling tokens into the market to avoid further exacerbating selling pressure.Blockchain analytics firms TRM Labs and Chainalysis have both attributed the attack to North Korea with high confidence. Binance has committed to covering user losses through its protection fund and company resources, and approximately $3 billion in stolen assets have been located, with about half frozen through stablecoin issuers such as Tether and Circle. Market analysts note that the incident has once again sparked discussions around the security of centralized trading platforms, the freezing capabilities of stablecoins, and the difficulty of tracking decentralized assets. (zerohedge)
Microsoft: 3 North Korean hacking groups have fully integrated AI into attack workflows
According to analysis by US cybersecurity firm TRM Labs, approximately $6.36 billion in funds from 10 Binance blockchain wallets was stolen in roughly 20 minutes. The agency attributes the attack to North Korean group TraderTraitor. It has not yet been confirmed whether AI was used in this attack.
OneKey Founder: IBIT Could Become Target of North Korean Cyberattacks, Coinbase's Single-Custody Model Raises Security Concerns
OneKey founder Yishi issued a warning that as Bitcoin ETF holdings increase, the security risks faced by custodians are also rising, and noted that BlackRock's spot Bitcoin ETF (IBIT) could become a potential target for North Korean hacking groups. The post states that TRM Labs is highly confident the recent Binance security breach is linked to the North Korean hacking group TraderTraitor, which has previously been implicated in the Bybit hack and the DMM Bitcoin theft.
1inch: Blocked addresses related to the Binance attack; some of the stolen assets involve 1INCH.
1inch stated that it has been tracking the Binance security incident and proactively reached out to Binance to provide support. Its risk management team, in collaboration with ZeroShadow, SEAL 911, TRM Labs, and other entities, has already blocked addresses associated with the attack from the 1inch dApp, 1inch Wallet, and 1inch API within the first hour after the incident, and will continue to update the list as new addresses are identified.
Binance and Coinbase Participate in West African Anti-Fraud Operation, Helping Identify Over $11 Million in Funds Pending Freeze
Odaily report: According to a U.S. Department of Justice announcement, law enforcement authorities in Ghana and Nigeria arrested 28 people in a joint operation targeting West African fraud networks, involving criminal activities such as cryptocurrency investment fraud. The operation was led by the UK's National Crime Agency (NCA), with participation from Binance, Coinbase, and blockchain analytics firms Chainalysis, Elliptic, and TRM Labs. Private-sector partners collectively identified more than $11 million in funds that could potentially be frozen, though the amount has not yet been confirmed as recovered assets.Coinbase stated that it assisted in tracking illicit funds, supporting asset freezes, and providing intelligence to investigators, identifying more than 65 victims still being defrauded and helping prevent over $415,000 in potential losses. During the operation, Ghanaian police arrested 19 people and seized 303 electronic devices, while another 9 people were arrested in Nigeria. Additionally, 117 human trafficking victims in Ghana are awaiting repatriation to Nigeria, and participants also provided law enforcement with leads on more than 30 suspected fraud centers. The U.S. Department of Justice said this was the first joint operation of its kind specifically targeting the West African region. (CoinDesk)