TRM Labs, in collaboration with leading crypto companies, unveiled a tool for instant response to digital asset crimes.
The TRM Labs team, a provider of crypto compliance analytics solutions, officially launched Beacon Network, a tool designed to prevent illegal fund outflows from blockchain ecosystems. The solution establishes reliable communication channels in real time between law enforcement, crypto exchanges, and asset issuers.
The tool was developed with the participation of major industry players, including:
- crypto exchanges: Coinbase, Binance, Kraken, Crypto.com, Bitfinex, HTX, Poloniex, OKX, 1inch, Rhino.fi, Coinspot, ChangeNow;
- payment companies: PayPal, Stripe, Robinhood;
- asset issuers and custodians: Ripple, Zodia Custody, Blockchain.com, Anchorage Digital;
- law enforcement and research organizations: Security Alliance (SEAL), zeroShadow, Hypernative, Operation Shamrock, CryptoForensics Investigators, ZachXBT.
According to TRM Labs, at least $47 billion has been sent to fraudulent addresses since 2023. A recent Global Ledger study revealed that hackers stole over $3 billion in crypto in H1 2025 alone. On average, it takes just over 15 hours from the initial breach to the first movement of funds, while public disclosure takes at least 37 hours, giving criminals more than 20 hours to launder stolen assets.
Beacon Network’s approach shifts from reaction to prevention. The system allows:
- tagging addresses associated with financial crimes, with automatic propagation of these tags to linked wallets;
- sending instant alerts when tagged funds arrive at a connected platform;
- pausing suspicious transactions.
Beacon Network was highly praised by industry leaders. CJ Rinaldi, Chief Compliance Officer at Kraken, called it a new opportunity for crypto exchanges to build a safe and reliable digital asset market. David Szuchman, Senior VP and Global Head of Financial Crimes and Customer Protection at PayPal, noted that the tool will strengthen the overall integrity of the crypto ecosystem. Noah Perlman, Binance’s Chief Compliance Officer, stated that Beacon Network could become a cornerstone for increasing trust and broader adoption in the crypto industry.
In 2025, hackers executed the largest crypto exchange hack in history, targeting Bybit for $1.4 billion, exploiting a Safe{Wallet} vulnerability.
