On-chain analytics firm TRM Labs launches crypto asset recovery service for law enforcement agencies

TechFlow reported on November 13 that, according to The Block, on-chain analytics firm TRM Labs has launched a managed service, Beacon Concierge, to help verified law enforcement agencies coordinate with exchanges and stablecoin issuers to track, freeze, and recover illicit crypto assets.

The service is built on the Beacon Network, which TRM said has more than 200 members and covers 80% of crypto transaction volume. When flagged funds reach network members, the average response time is measured in minutes.

TRM said Beacon Concierge has supported 15 cases for 14 institutions across 10 countries, freezing more than USD 35 million. Its investigators are responsible for tracing funds, preparing evidentiary materials, flagging addresses, and assisting with freeze and seizure requests.

Source: TechFlow