TRM Labs
@trmlabs
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Preventing fraud and financial crime for digital currencies
Joined September 2018
Our mission is to build a safer financial system for billions of people.
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The T3 Financial Crime Unit (T3 FCU)—a collaboration between @trondao, @Tether_to, and TRM Labs—has frozen more than USD 100 mil in criminal assets globally, passing a significant milestone in its fight against crypto-related financial crime. Learn more:
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At least 120,000 Wrapped ETH worth over $324M were stolen today in what appears to have been a compromise of the Wormhole service on Solana. As of 5pm ET, about 96,000 of these WETH have been transferred to a single address on the Ethereum blockchain. TRM is tracking; stay tuned.
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"This should be the norm, not the exception — regulators are finally talking to industry." – @EleanorTerrett. Catch the latest #TRMTalks with Ellie and @ARedbord, as they cut through the noise on D.C. crypto policy shifts 🎧 Listen now:
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Big day 🚀 Announcing the close of our Series B funding round led by @TigerGlobalFund. Read the full story here:
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Our current estimate of unauthorized withdrawals from FTX is $338mm. As previously reported, some withdrawals are to FTX cold storage wallets. Our $338mm figure excludes clean funds under the control of FTX Group. We’re monitoring the situation closely. #FTX #ftxwithdrawal
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We wrote a post about how we work with DeFi platforms to enable sanctions compliance. Read it here:
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Solfire Finance executed a rug pull on Jan 23, then bridged over $3 million in customer funds to Ethereum and provided approximately $1.8 million in liquidity to a DeFi protocol. Details here:
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The NFT community has suffered more than 150 compromises targeting NFT projects' Discord servers since May 2022. A sampling. (1/2)
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Chain-hopping via bridges has become one of the most popular money laundering methods for illicit actors. That's been a problem for crypto investigators — until now. Meet TRM Phoenix — automated cross-chain tracing through 12+ bridges & services:
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Proud to announce the launch of a new tool for the crypto community today, @chainabuse — a multi-chain platform where you can report and alert others to scams and fraud. It's free to use; join us in making the crypto economy a safer place to operate:
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Today we announced a $70mm expansion to our Series B funding round, bringing the raise to $130mm total. Excited to welcome new investors @thomabravo, @GoldmanSachs, Brevan Howard, @GeodesicCap and @CMTDigitalLtd & welcome back several existing investors.
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New analysis by TRM corroborates long suspected ties between ransomware groups Ryuk and Conti — and demonstrates how critical tracing the flow of funds can be in understanding the operation of cybercriminal organizations. Read the report here:
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We've raised $1.7M in a seed round led by Blockchain Capital to change growth and compliance for crypto companies. Couldn’t be more excited to partner with an amazing team of investors!.
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This morning OFAC sanctioned Ethereum-based crypto mixer Tornado Cash. Our analysis shows North Korean cybercriminals used the mixer to launder funds in all 10 of their most recent heists, including in the $620mm Ronin Bridge hack. Read TRM's report:
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We’re excited to announce our integration with @0xPredicate to launch the first decentralized policy infrastructure for blockchain apps — empowering developers to integrate compliance and risk management directly into smart contracts. See the details ➡️
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Honored to be included on The Information's list of 50 Most Promising Startups . We are committed to building a safer financial system for billions of people - the future is bright at TRM! 🚀. @theinformation.
In the hyper-growth crypto sector, pay attention to @chia_project, @AudiusProject, @trmlabs, @zerion_io, @QuickNode and @mojito_nft 🪙 #ti50.
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🇰🇵 Last month TRM’s Ari Redbord was joined by Dr. Jung H. Pak, Dr. John Park, and Nick Carlsen to discuss the evolving North Korean threat and how to mitigate it. We rounded up our key takeaways from the discussion. 👉 Read the Recap here:
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The Twitter Bitcoin Scam has already raked in more than $50,000 USD. It started approximately 3 hours ago. TRM is monitoring the attack. All TRM customers, including cryptocurrency exchanges and custodians, will be notified if the fraudster attempts to deposit funds into them.
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TRM Labs is on track to become the first blockchain intelligence company to receive FedRAMP Moderate authorization—highlighting our unwavering commitment to providing secure, reliable solutions that US government agencies can trust. Learn more:
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Team TRM in action - building the 🚀 together!. 👀@joes_mcgill @eliaskokaly @patricksouth @estebancastano @ARedbord
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Those most negatively impacted by hacks are crypto users themselves. That’s why we are launching the TRM Beacon Network, which accelerates recovery of stolen funds by facilitating comms between law enforcement & crypto platforms during critical incidents
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TRM Labs has been named a @ycombinator top company for 2022 ✨ Congratulations to all of the other companies highlighted here:
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Awesome to see Rahul Raina, one of our fearless Co-Founders, featured on the Forbes 30 Under 30 list!. Congrats @rahulr0609 🙌.
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TRM welcomes Sujit Raman, former Associate Deputy Attorney General at DOJ and chair of the 2020 DOJ Cryptocurrency Enforcement Framework task force, who joins today as General Counsel:
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Update: The total ETH transferred to the single wallet was 93,750. The attacker pre-funded the Ethereum bridge address with a @TornadoCash deposit. TRM continues to closely monitor this attack. Stay tuned for further updates and analysis.
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TRM’s mission is to build a safer financial system for billions of people. In service of that mission, we built a free tool that empowers crypto platforms to detect exposure to sanctioned crypto addresses in real time. 🟢 The API is live — try it here:
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TRM's investigations team breaks down the flow of stolen funds following yesterday's Wormhole exploit here: (Cross-chain swaps like those that bridged the stolen WETH from Solana to Ethereum can be plotted automatically in TRM).
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Distrust and misunderstanding of crypto and blockchain slows adoption and weakens support from critical participants. TRM exists to address these challenges.
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In our latest case study, learn how @houstonpolice leveraged TRM Labs’ blockchain intelligence to recover $150,000 in stolen cryptocurrency from an elderly victim, setting a new benchmark for digital asset recovery operations in Harris County, Texas 👉
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After 2 years of debate and discussion, officials from the EU announced an agreement on the landmark Markets in Crypto Assets (MiCA) regulation — arguably the world’s most comprehensive legal framework for “crypto-assets.” Read TRM's key points to know:
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Meet TRM | Joe McGill . @joes_mcgill . - TRM Global Investigations Team.- Focuses on trending threats in crypto .- Previously w/ U.S. Secret Service and U.S. Postal Service Inspector General investigating complex cybercrimes + crypto fraud.- Based in Memphis, loves good BBQ
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Trust forms the foundation for innovators, governments and consumers to forge ahead in building a better financial system for all. That's why we do what we do.
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New #TRMTalks now live! 🎙️ @wyoapollo (Director, @wyostable) joins @ARedbord to discuss Wyoming’s cutting edge work on digital assets—from its DAO law to bank charters and stablecoins. Listen now ➡️
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@CoinDesk’s managing editor, global policy and regulation @nikhileshde joins @ARedbord on #TRMTalks this Wednesday. Learn about his non-stop coverage of the Sam Bankman-Fried trial, his famous courtroom sketches, and more. Follow TRM Talks on Spotify ➡️
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Suspects accused of laundering funds stolen from Bitfinex in 2016 arrested today in NY. At the time of the breach, 119,754 in stolen BTC was valued at approx. $71 million. The stolen funds are valued at over $4.5 billion as of Feb 2022. Read more:
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Taiwan-based exchange @xrexinc used TRM’s #blockchainintelligence to corroborate a phishing victim’s crypto asset ownership and collaborate with law enforcement—leading to the successful return of the stolen funds. Get all the details ➡️
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Fresh alpha: the TRM crew is at @money2020 Europe this week and there's a hot 🔥 NFT drop scheduled! Stop by the TRM booth at A66 to see the 🌷 collection and enter to win 🖼
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👋 Twitter, TRM here. We make best-in-class software to detect and investigate crypto fraud and financial crime. If you love crypto, throw us a follow for analysis and insights.
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What's in the new Crypto Enforcement Framework from the US Department of Justice? . Hear directly from fmr US Attorney Jessie Liu, fmr Associate Deputy Attorney General Sujit Raman, and Supervisory Special Agent Greg Monahan, CPA Cyber Crimes Unit, IRS-CI.
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👋Here when you need us! TRM’s Incident Response team has been busy this week:.
Crema wants to thank the Incident Response team at @trmlabs. This situation would not have been resolved this quickly without their skilled and professional assistance. We are glad to reach a long-term partnership with them to strengthen Crema’s risk management.
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Team TRM keeps adding all-stars! ⭐️. Excited to welcome former FBI Special Agent, Jennifer Vander Veer, who is joining TRM as a Product Strategist.
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As LE agencies encounter more and more cases involving crypto, we're excited to launch TRM Tactical, the mobile-first forensics tool for frontline investigators who need to surface evidence, analyze wallets & kickstart investigations rapidly. Learn more:👇
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The ~$100 million in assets stolen from @harmonyprotocol 's bridge have been swapped for nearly 86K ETH and are now sitting in the original hack address👇. Next stop - a mixer? 🌪️.
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New blockchain integration 📣 TRM users now have the ability to monitor and investigate transactions on @0xPolygon for anti-financial crime compliance and risk management. TRM now covers 25 chains. and counting. 👀.
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TRM is thrilled to welcome Roman Sannikov as head of cyberthreat intelligence. Team TRM continues to add more stars to the roster. These are the people making crypto safer as we build a new financial system for billions of people. Welcome, Roman!.
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🐎 Over the last few years, Wyoming has been a leader in financial regulatory innovation—from its SPDI bank charters to its DAO law. Check out our latest #TRMTalks with @ARedbord and @wyoapollo (Director, @wyostable) to learn why:
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A safer crypto financial system enables a larger crypto financial system.
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At TRM we understand the devastating victim impact of romance scams. This Chainabuse video will help you learn how to protect your loved ones. Chainabuse: a free platform for crypto safety resources – report your case:
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Nomad update: a primary attacker appears to have stolen the largest single portion of the funds, approx $95 million. The rest of the stolen funds were distributed to a much wider spread of wallets, which could represent distinct attackers — or opportunists 1/3.
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Rose just earned her first-ever cryptoasset, TrueUSD by @TrustToken, by using TRM SmartDrops and @CoinbaseWallet! Visit to participate 😊
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TRM Insights | Behind Suex: the first sanctioned cryptocurrency exchange.
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BREAKING: OFAC Takes First Action Against Cryptocurrency Exchange and Issues Updated Ransomware Advisory. See exclusive TRM / OFAC interview here 👇.
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Want to stay on top of the stories that matter in digital assets and crypto?. Check out TRM Insights - you can even subscribe to get our expert analysis delivered fresh to your inbox.
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📰 Big news today at TRM || CSITech — the leading crypto investigations training firm led by Nick Furneaux — is now part of the TRM family! Get the full scoop here: and learn more about our growing suite of training offerings here:
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North Korean hackers stole USD 600 million in crypto in 2023, TRM Labs research shows. Read the story now:
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Yesterday, TRM hosted UK public sector clients & friends at the US Embassy in London, where we explored emerging risks & typologies in crypto crime. Thanks to all who made this event possible, including our attendees, and @USAinUK for facilitating these important discussions.
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🎙️ On July 24, TRM Talks is joined by Rebecca Rettig, Michael Mosier, and Jai Ramaswamy to discuss the future of DeFi. 👉 Register here
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"You can't flip a switch overnight and run a G20 economy on cryptocurrency." That's Todd Conklin of the U.S. Department of the Treasury in yesterday's TRM Talk on Russia sanctions. Watch the interview here: #RussiaUkraine #sanctions
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A warm welcome to Eddie Medak, who recently joined TRM as Chief Revenue Officer. Mr. Medak will play an instrumental role in scaling the team and product portfolio to ensure that TRM continues to be the best partner to our customers. Read more 👉
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How are financial institutions are leveraging the power of transformative technologies—including #blockchain, #DeFi, #AI, and the metaverse? @ronitA380 of @Citi Institute joins @ARedbord on our latest #TRMTalks (coming Wednesday!). Follow TRM Talks ➡️
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📘 Nick Furneaux’s new (and @ARedbord + @Chrisjanczewski approved) book, “There’s No Such Thing as Crypto Crime,” has hit the shelves! Learn how #crypto is used in crime, and uncover new tracing and investigative methods for investigators. Get your copy now.
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TRM Labs Acquires Bitcoinabuse - announces major upgrades to its Chainabuse platform for reporting malicious crypto activity.
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Yesterday the Wintermute hacker sent 23,609,070 DAI, 29,461,533 USDT and 61,350,896 USDC to Curve. Today, an address used by the Omni Protocol exploiters - and at least one of the Nomad exploiters - started to move previously parked funds in a curiously similar fashion. 1/2.
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This weekend, an unknown attacker created two tokens to execute a flashloan attack against Paraluni, a BNB Chain-based DeFi project. The names of the tokens: "Ukraine Bad" and "Russia Good." [1/2]
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Day 2 of @token2049 London is in full swing!. 🎤 Our Senior Policy Advisor presented on a panel with Bittex and EY, delving into the ever-changing crypto regulatory landscape. 📍Be sure to stop by booth PB6 to say hello and chat to our UK team about crypto compliance!
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In this textbook pig butchering case, USSS SF agents were able to follow the path of the stolen funds from unhosted wallets to a centralized exchange, ultimately recovering millions in victim funds. We unpack the full investigation here:
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Join a special edition of TRM Talks today to hear more on the significance of Tornado Cash as a target of sanctions and what this means for crypto compliance teams day-to-day. We're live at 2pm ET today; register here:
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#permissionless lineup looking 🙌 @Blockworks_ .If you're headed to Palm Beach next week, say hey to the crew from @trmlabs:
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Earlier today, @DeusDao, a market for #DeFi services, lost ~$13.4M in a flash loan attack that manipulated its price oracle. A similar attack occurred only weeks ago for a loss of ~$3M. In both, @TornadoCash was used to prime the attack wallet and attempt to obscure stolen funds.
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TRM's Illicit Crypto Ecosystem Report is here: a comprehensive guide to illicit finance risks in crypto in 2023. As illicit actors move from Bitcoin to other chains, it's more important than ever to understand & mitigate risks as they evolve. Find it here:
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New #OFAC sanctions added 3 ETH addresses associated with #LazarusGroup. They received funds from the initial sanctioned address associated with the #RoninHack. TRM continues to track the movement of funds on chain.
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Today, 💥Biggest Heist Ever💥 drops on Netflix, detailing the scandalous details of the largest heist in history, and feat. a few familiar TRM faces: @chrisjanczewski and @ARedbord. Get all the details (plus a peek behind the scenes) 👉
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TRM Insights • New Years Edition 🎆. What 2022 Might Bring for Crypto Regs and Compliance.
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We're pleased to announce our partnership with @falconxnetwork to streamline #crypto #compliance. To learn more, read the full release on our blog! .
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