Coinbase, Ripple, and Binance join industry leaders as founding members of TRM Labs’ Beacon Network

Blockchain company TRM Labs has launched Beacon Network, a real-time crypto crime response network designed to block illicit funds before they can be laundered into fiat.

Beacon Network has secured a diverse lineup of founding members from across the crypto and financial sectors. The list features Coinbase, Binance, PayPal, Robinhood, Stripe, Kraken, Ripple, Crypto.com, Zodia Custody, Blockchain.com, Anchorage Digital, Bitfinex, HTX, Poloniex, OKX, LFJ, 1inch, Rhino.fi, Coinspot, and ChangeNow.

Built in collaboration with law enforcement, exchanges, and stablecoin issuers, Beacon Network connects investigators and platforms in real time. Verified investigators flag wallets tied to fraud or hacks, and Beacon automatically propagates those risk labels across linked addresses.

When flagged funds hit a participating exchange or issuer, the network triggers an instant alert, allowing platforms to review and freeze deposits before they can be cashed out.

“There’s no program like Beacon Network,” said Valerie-Leila Jaber, Global Head of Anti-Money Laundering at Coinbase. “It’s a true early warning system that helps us identify and freeze illicit assets so law enforcement can recover them.”

Beacon Network is aimed at tackling the surge in crypto crime. TRM Labs estimates that more than $47 billion has flowed to fraud-linked addresses since 2023, while hackers have already stolen over $2.3 billion from the ecosystem so far this year.

“Protecting consumers and safeguarding the integrity of the crypto ecosystem requires seamless collaboration across the industry and law enforcement. Beacon Network’s real-time intelligence allows us to act within moments,” said CJ Rinaldi, Chief Compliance Officer at Kraken.

“PayPal is proud to be a founding member of Beacon Network, joining forces with industry leaders and law enforcement to combat crypto-related financial crime in real time,” said David Szuchman, Senior Vice President, Global Head of Financial Crimes and Customer Protection at PayPal.

Leading federal law enforcement agencies globally are actively contributing to the network, along with security researchers and firms including ZachXBT, Security Alliance (SEAL), zeroShadow, Hypernative, Operation Shamrock, and CryptoForensics Investigators.