Image Credit: TRM Labs
- TRM Labs launched Beacon Concierge, helping selected police agencies trace stolen funds and prepare freeze requests without buying its software.
- It has supported 15 cases involving 14 agencies in 10 countries, with more than $35 million frozen, according to TRM.
- A freeze can prevent further transfers, but the $35 million is not money already returned to victims.
Crypto investigations firm TRM Labs has launched Beacon Concierge, giving selected police agencies worldwide help tracing stolen funds and preparing freeze requests without buying its software.
The service, announced on Nov. 12, has already supported 15 cases involving 14 agencies in 10 countries, with more than $35 million frozen, according to TRM.
Investigators Trace Funds and Prepare Freeze Requests
Agencies verify their status once and submit a case. TRM investigators then follow the funds, assemble supporting evidence, flag relevant addresses and route requests to participating stablecoin issuers, staying involved through the issuer’s decision. A single submission can cover participating issuers across supported chains.
Participating issuers can freeze their tokens on-chain, while exchanges can block withdrawals from accounts they control.
TRM co-founder and CEO Esteban Castaño described the bottleneck:
“Criminals move quickly, and the agencies pursuing them need a clear path to the issuers who can act.”
TRM did not disclose pricing for the service.
Address Alerts Follow Funds as They Move
Concierge operates through the existing Beacon Network, which connects investigators with exchanges, stablecoin issuers and other crypto businesses. Investigators flag addresses linked to suspected crime, and the system follows the funds as they move on-chain.
When flagged money reaches a participating platform, an alert gives its compliance team information to review before a withdrawal occurs. The platform can assess the risk, work with police and decide what action to take.
TRM says action takes minutes on average after flagged funds reach a member. That clock starts when the money reaches a participating platform, so it does not measure the whole investigation.
For a smaller police force, that offers a route from a fraud complaint to a company that may be able to stop the money moving. A freeze can prevent further transfers, but the reported $35 million should not be read as money already returned to victims.
Earlier Network Cases Include a $1.5 Million Freeze
TRM’s network case studies include a global scam investigation in which exchange alerts helped freeze $1.5 million before withdrawal. In another case, investigators located $800,000 in scam-related deposits at an exchange and used alerts to coordinate recovery efforts.
In an impersonation-scam case, a prepaid crypto card service blocked withdrawals after receiving information about flagged wallets. The service also blocked linked devices, disrupting the setup used to try to cash out.
