Back
Binance and Coinbase Join TRM Labs’ Beacon Network with Law Enforcement

Binance and Coinbase Join TRM Labs’ Beacon Network with Law Enforcement

Poloniex becomes a founding member of TRM Labs’ Beacon Network, enhancing global collaboration among exchanges and law enforcement to counter illicit finance through real-time intelligence sharing and cross-border cooperation.

Fact Check
The statement is directly confirmed by multiple primary and secondary sources. Official announcements from both TRM Labs (the network's creator) and Binance confirm that both Binance and Coinbase are founding members of the Beacon Network. The evidence also explicitly states the network's purpose is to collaborate with law enforcement to combat illicit transactions.
    Reference: 123
Summary

Poloniex announced it has joined TRM Labs’ Beacon Network as a founding member, marking its commitment to combating crypto-related crime. The Beacon Network connects exchanges, stablecoin issuers, regulators, and law enforcement with real-time alerts and intelligence sharing to identify and disrupt illicit fund flows before conversion to fiat. Albert Nan, Poloniex’s Chief Security Officer, emphasized that addressing crypto crime requires international cooperation and stronger regulatory frameworks. Poloniex plans to contribute its operational expertise in cybersecurity and compliance to strengthen transparency and accountability across the ecosystem.

Terms & Concepts
  • Beacon Network: A real-time crypto crime response system launched by TRM Labs that flags and blocks illicit funds before they are laundered into fiat.
  • Illicit finance: Financial activities involving cryptocurrency used for fraud, hacks, terrorism financing, or other illegal purposes.