TRM Labs Launches Beacon Network to Combat Real-Time Crypto Fraud

TRM Labs has unveiled the Beacon Network, a first-of-its-kind real-time response system designed to detect and prevent cryptocurrency-related crimes. The platform operates in collaboration with exchanges, stablecoin issuers, law enforcement, and crypto firms, creating a coordinated network to flag illicit activity before assets leave the blockchain.

Founding participants include major players like Ripple, Binance, Stripe, Anchorage Digital, PayPal, and Robinhood. The network enables rapid detection and response, with alerts triggered when flagged funds arrive at participating platforms, allowing exchanges to hold deposits before withdrawals.

Since 2023, at least $47 billion in crypto has been sent to fraudulent addresses, with billions stolen in hacks, scams, and other illicit activity. The Beacon Network aims to drastically reduce response times, providing real-time protection and creating a safer environment for both investors and institutions.

This initiative represents a significant step toward industry-wide collaboration in tackling fast-moving and sophisticated crypto crimes.