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- Zameer Attar
Zameer Attar
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๏ปฟAnjali BelgaumkarWriter by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto โEnthusiastโ but trust me I'm getting there.
- Aug 21, 2025 09:32 UTC
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Ripple, Coinbase, Binance Join Forces to Stop Crypto Criminals Cold
Beacon Network will stop illegal money from moving through the blockchain.
It scans blockchain transactions in real time to spot unusual patterns and block suspicious activity.
It allows trusted members flag shady wallet addresses and trace stolen funds across different blockchains.
TRM Labs has teamed up with big crypto firms like Coinbase, Ripple, and Binance to launch the Beacon Network. This is the worldโs first crypto crime response system. Its goal is to stop illegal money from moving through the blockchain.
Beacon Network: An Approach to Prevent Crypto Fraud
The crypto industry is often hit by scams and fraud, making it a risky space for investors and users. To tackle this, leading crypto companies have come together to launch the Beacon Network, a system built to stop illegal activities.
The Beacon Network scans blockchain transactions in real time to spot unusual patterns and block suspicious activity.
It also lets trusted members flag shady wallet addresses, trace stolen funds across different blockchains, and share details with law enforcement.
TRM Labs calls it the first complete โkill chainโ designed to target and shut down illicit crypto assets.
Esteban Castaรฑo, CEO and co-founder of TRM Labs, stated, โThis isnโt about adding another layer of compliance. Itโs about unlocking the full potential of crypto: real-time transparency, automated detection, and rapid response. Beacon Network proves that with the right infrastructure, crypto can be the most secure financial system in the world.โ
Crypto Giants to Launch Beacon Network
Coinbase, Binance, PayPal, Robinhood, Stripe, Kraken, Ripple, Crypto.com, Zodia Custody, Blockchain.com, Anchorage Digital, Bitfinex, HTX, Poloniex, OKX, LFJ, 1inch, Rhino.fi, Coinspot, and ChangeNow are the founding members of Beacon Network.
โBeacon Network represents a new chapter, defined by real-time intelligence, proactive risk management, and cross-sector collaboration. At Ripple, weโre proud to be a founding member,โ said Andrew Rosenberg, Head of Financial Crimes Compliance at Ripple.
The โKill Chainโ Disrupts Illicit Funds
TRM data shows that since 2023, at least $47 billion in cryptocurrency has been sent to fraud-related addresses. Now with Beacon Network, the members seek to end this criminal cycle.
The Beacon Network is already in use and has reportedly achieved successes in tracking illicit funds from cybersecurity incidents. It froze $1.5 million linked to a global scam and identified $800,000 in scam-related deposits at a major exchange.
The network will prioritize taking down major crypto criminals, such as North Korean IT workers involved in crypto scams. It also aims to prevent terrorist financing and recover funds for victims.
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FAQs
The Beacon Network is the world’s first crypto crime response system, launched by TRM Labs and major exchanges to track and freeze illicit funds across blockchains.
It scans transactions in real-time, flags suspicious wallets, traces stolen funds across chains, and shares intelligence with law enforcement to freeze assets.
It prioritizes major threats like North Korean crypto scams, terrorist financing, and large-scale fraud to recover funds for victims.
Yes 
No 
