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Leading Exchanges Unite in Network to Track and Freeze Cryptocurrencies📈TRM Labs, a leading provider of blockchain analytics solutions, has announced the launch of the Beacon Network — a real-time incident response system designed to combat cryptocurrency-related crime. Key applications include disrupting operations of North Korean IT operatives and hackers, fighting ransomware, preventing terrorist financing, and facilitating the recovery of assets lost to fraud.
📈The initiative is supported by major platforms such as Coinbase, Binance, PayPal, Robinhood, Stripe, Kraken, Ripple, Crypto com, Zodia Custody, Blockchain com, Anchorage Digital, Bitfinex, HTX, Poloniex, OKX, LFJ, 1inch, RhinoFi, Coinspot, and ChangeNow. Law enforcement agencies from the United States, Canada, the United Kingdom, Ireland, Germany, the Netherlands, Switzerland, Spain, Portugal, Australia, South Korea, and several other jurisdictions have joined the effort, alongside renowned cybersecurity experts including ZachXBT, Security Alliance, and Hypernative.
✅Within the Beacon Network, law enforcement bodies, blockchain investigators, and project partners flag wallet addresses associated with high-priority threats. This intelligence is automatically shared across the network. When funds linked to these addresses reach a participating exchange, the network provides immediate alerts, enabling the platform to preemptively screen transactions and freeze suspicious assets.
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