TRM Launches Industry-Wide Platform to Fight Crypto Crimes
In a groundbreaking move, TRM Labs has launched Beacon Network, an innovative intelligence-sharing platform designed to combat illicit cryptocurrency activities and build a real-time crypto crime response network. This industry-first initiative was announced on August 20, coinciding with new data from TRM Labs that revealed at least $47 billion in cryptocurrency has been sent to fraud-related addresses since 2023.
The concept behind Beacon Network is to unite various stakeholders in the cryptocurrency and cybersecurity ecosystem to share intelligence in real-time, thereby preventing major crypto heists like the $1.5 billion Bybit hack. Specifically, Beacon Network focuses on several high-impact areas, including:
The initiative was developed in collaboration with law enforcement across dozens of countries, leading financial platforms, cryptocurrency exchanges, and stablecoin issuers, as well as a few crypto-security researchers and research firms.
Some of the top crypto exchanges joining Beacon Network include Binance, Bitfinex, Coinbase, Crypto.com, HTX, OKX, and Kraken alongside other crypto-related companies such as Ripple, Zodia Custody, and Blockchain.com. Established fintech companies have also joined, including PayPal, Robinhood, and Stripe, along with some of the most active researchers in the world of crypto crimes – including ZachXBT, Security Alliance (SEAL), zeroShadow, Hypernative, Operation Shamrock, and CryptoForensics Investigators.
How the Beacon Network Platform Works
According to TRM Labs' announcement, Beacon Network is pursuing four objectives:
Vetted law enforcement agencies are located in Australia, Canada, Germany, Ireland, the Netherlands, Portugal, Spain, South Korea, Switzerland, the UK, and the US.
The difference between Beacon Network and similar initiatives lies in the real-time response. "In real time, Beacon Network automatically traces those funds across the blockchain and propagates that intelligence to connected services," the announcement reads.
"When flagged funds hit a participating platform, the system immediately sends an alert — all without human intervention. This automated tracing and real-time notification means that illicit funds can be identified, tracked, and acted on before they can be withdrawn or laundered."
Proving That Crypto Can Be the “Most Secure Financial System”
Esteban Castaño, CEO and co-founder of TRM Labs, assured that Beacon Network's aim is not to add another layer of compliance. "It's about unlocking the full potential of crypto: real-time transparency, automated detection, and rapid response," he added.
"Beacon Network proves that with the right infrastructure, crypto can be the most secure financial system in the world,"
Valerie-Leila Jaber, global head of anti-money laundering (AML) at Coinbase, was equally hyperbolic. "There's no program like Beacon Network," she said. "It's a true early warning system that helps us identify and freeze illicit assets so law enforcement can recover them."
"That's critical for protecting victims and safeguarding the broader ecosystem. Access to real-time intelligence is a game changer."
Marc Fungard, head of financial crime, compliance, and risk oversight at Stripe, noted that Beacon Network helps close the gap in traditional financial oversight.
"Financial crime doesn't respect the line between traditional finance and crypto, so risk management must cover both on-chain and off-chain activity. We're eager to contribute to Beacon Network's real-time, collaborative model, which turns persistent, shared signals into swift, coordinated action with law enforcement — helping protect users and strengthen the wider financial system,"
TRM Labs said Beacon Network encourages other actors to join, especially law enforcement agencies, stablecoin issuers, crypto exchanges, decentralized finance (DeFi) platforms, security researchers, and "other trusted members of the cryptocurrency ecosystem."