Some of the biggest names in crypto—including Binance, Coinbase, Bitfinex, Crypto.com, HTX, Kraken, PayPal, Poloniex, Ripple, and Zodia Custody—have become the first members of the Beacon Network, a new crime response system designed by TRM Labs to track and freeze illicit funds in real time.
TRM Labs announced the initiative on Wednesday, describing the Beacon Network as an unprecedented level of collaboration between exchanges, issuers, and law enforcement.
The platform enables participants to flag suspicious transactions instantly, preventing bad actors from cashing out stolen funds.
When illicit funds hit a participating exchange or service, an alert is automatically sent across the network.
This collective warning system ensures that multiple platforms are on guard at once, creating a stronger defense against criminals attempting to exploit gaps between different exchanges.
Valerie-Leila Jaber, Coinbase’s Global Head of Anti-Money Laundering, called the Beacon Network a “true early warning system,” stressing its importance for freezing illicit assets and assisting law enforcement in recovering stolen funds.
She added that this type of real-time intelligence strengthens trust and security across the broader digital asset industry.
The network is free and voluntary for verified exchanges and accredited law enforcement agencies, lowering the barrier to entry for trusted participants.
By doing so, TRM Labs hopes to create broad adoption and wide accessibility, maximizing its effectiveness.
The network comes after it was estimated that more than $47 billion in cryptocurrency has been sent to fraud-related addresses since 2023.
The Beacon Network targets some of the most pressing threats, including operations tied to North Korean hackers, ransomware campaigns, terrorist financing, and illicit flows connected to child sexual abuse material (CSAM).
Participation is open to stablecoin issuers, centralized and decentralized exchanges, DeFi platforms, and security researchers.
These groups can submit claims to trace suspicious transactions, ensuring that criminal funds can be flagged and obstructed before liquidation.
By fostering cooperation between competitors, regulators, and security experts, the Beacon Network sets a new benchmark for transparency and crime prevention in the crypto sector.
TRM Labs believes the initiative will not only protect assets but also boost investor confidence as the digital finance landscape matures.
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