TRM Labs

We are hiring! Join our mission and build a safer financial system at TRM!

We are hiring! Join our mission and build a safer financial system at TRM!

Last week, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), working with the Federal Bureau of Investigation (FBI), U.S. Department of Justice, and Mexico’s financial intelligence unit, announced sweeping sanctions against Ryan James Wedding — a former Canadian Olympic snowboarder turned violent international narcotics trafficker — along with nine individuals and nine entities tied to his global criminal network. At the same time, the US unsealed indictments and increased the reward for information leading to Wedding’s capture to as much as USD 15 million. Wedding oversees a transnational cocaine-trafficking empire responsible for multi-ton shipments from Colombia and Mexico into North America, while directing dozens of murders across multiple countries. The sanctions exposed a sprawling architecture of shell companies, luxury assets, and corrupt facilitators operating across Mexico, Canada, Colombia, Italy, and the UK. A major component of the action was the addition of 12 crypto addresses to the SDN list, covering Bitcoin, Ethereum, TRON, BNB Chain, and Solana. These wallets illustrate a cross-chain laundering strategy typical of large narcotics networks—using multiple blockchains, cross-chain routing, and VASP hopping to obscure the source of funds. TRM Labs’ analysis identified significant transactional activity across high-risk exchanges, consistent with attempts to gain liquidity while masking the origin of drug proceeds. Key actors included Edgar Aaron Vazquez Alvarado (“the General”), a former Mexican law-enforcement official who allegedly provided protection and intelligence and used his fuel-sector companies to support the network. Wedding’s wife, Miryam Andrea Castillo Moreno, was designated for laundering funds and facilitating violent activity. In Canada, jeweler Rolan Sokolovski (“Diamond Tsar”) allegedly moved millions in cocaine proceeds through cryptocurrency before converting the funds into jewelry and other luxury assets. In Europe, former Italian special-forces member Gianluca Tiepolo managed a fleet of luxury vehicles — including a USD 13 million Mercedes CLK-GTR — through front companies in Italy and the UK, while operating paramilitary-style training sites for the network’s enforcers. Two associates were also sanctioned for concealing illicit wealth and managing shell entities. The action reflects a broader U.S. effort to disrupt transnational drug traffickers who increasingly rely on cryptocurrency, global facilitators, and multi-jurisdictional financial structures to move and launder illicit proceeds. 📑 Read TRM's in-depth blogpost here: https://lnkd.in/eiUyWYEB 📄 Read TRM's report on cartels here: https://lnkd.in/dpWpwQCQ

From fake Grindr profiles to #crypto robberies📱 The clock was ticking. Prosecutors realized days before trial that no #blockchain tracing had been done in a case involving a string of violent robberies that started from fake Grindr profiles. A late night call to West Midlands Police investigator, Nathan B., kicked off the investigation. The next time he picked up the phone, Coinbase Global Intelligence Manager, Richard Ashbrooke-Motte, answered. “𝘛𝘩𝘪𝘴 𝘸𝘢𝘴𝘯’𝘵 𝘫𝘶𝘴𝘵 𝘤𝘺𝘣𝘦𝘳𝘤𝘳𝘪𝘮𝘦. 𝘐𝘵 𝘸𝘢𝘴 𝘱𝘩𝘺𝘴𝘪𝘤𝘢𝘭, 𝘷𝘪𝘰𝘭𝘦𝘯𝘵, 𝘢𝘯𝘥 𝘪𝘵 𝘴𝘩𝘰𝘸𝘦𝘥 𝘩𝘰𝘸 𝘤𝘳𝘺𝘱𝘵𝘰 𝘤𝘢𝘯 𝘪𝘯𝘵𝘦𝘳𝘴𝘦𝘤𝘵 𝘸𝘪𝘵𝘩 𝘳𝘦𝘢𝘭-𝘸𝘰𝘳𝘭𝘥 𝘩𝘢𝘳𝘮𝘴,” said Ashbrooke-Motte. What followed was a rapid, multi-agency push to rebuild the on-chain trail behind the group targeting LGBTQ individuals across the UK. Here’s what made the breakthrough possible: 🔹 Stolen assets scattered across 80+ transactions were traced back to key points of exposure 🔹 Device links, account attribution, and off-chain records helped narrow in on the attackers 🔹 ID-verification images captured during the crimes placed suspects beside victims The resulting evidence helped secure convictions for five perpetrators totaling 78+ years in sentences. The case underscores how early tracing, fast collaboration, and community-aware policing can protect people who are often hesitant to come forward. Read the full story here 👉 https://lnkd.in/eK7v7kTw

🦃 This week, as the US celebrates Thanksgiving, we’re especially grateful for the global community working every day to safeguard the integrity of the financial system: investigators, compliance teams, regulators, policymakers, and builders who show up with purpose and collaboration. Even during a holiday week, the digital asset ecosystem didn’t slow down. Ari Redbord, Angela Ang, and Isabella Chase break down the major developments in this Thanksgiving edition of the The Weekly Roundup. Here are the stories we’re gobbling up this week: 🏦 Basel Committee to revisit capital requirements on banks' crypto 🇭🇰 Hong Kong SFC flags rising misuse of licensed VATPs for layering 🇹🇭 Thai authorities partner with private sector to recover USD 432,000 in stolen crypto 🇲🇽 US Treasury sanctions Ryan James Wedding network, including nine individuals and nine entities 🇬🇧 UK-led Operation Destabilize up to 128 arrests and USD 32.6 million in crypto and cash 🦃 This Thanksgiving: Thankful for clarity and collaboration Let’s dig in 👇

Wherever Ari Redbord goes, he runs! 𝐓𝐑𝐌 𝐑𝐮𝐧 𝐂𝐥𝐮𝐛 hits London next week 🇬🇧 Join Ari and the TRM team for an early morning loop through scenic Hyde Park at a relaxed, conversational pace. All fitness levels welcome. — — — 📍 Hyde Park @ 8:00am GMT 🧢 There may be surprises for early registrants! 🔗 Register here: https://lnkd.in/eaAZdN7r

Last week at 𝐁𝐥𝐨𝐜𝐤 𝐛𝐲 𝐓𝐑𝐌, nearly 300 investigators, compliance leaders, regulators, and national security analysts came together for a new kind of #crypto conference — one focused not on just 𝘵𝘢𝘭𝘬𝘪𝘯𝘨 disruption, but actually 𝘥𝘳𝘪𝘷𝘪𝘯𝘨 it. From inspirational keynotes to hands-on learning tracks to product launches like 𝐓𝐑𝐌 𝐃𝐞𝐜𝐨𝐧𝐟𝐥𝐢𝐜𝐭 — it was incredible to see so many dedicated individuals coming together to hone their craft, make connections, and work together to build a safer financial system for everyone. 🔹 Investigator Block was all about driving investigations from signal to seizure 🔹 Compliance Block focused on bringing together on- and off-chain intelligence 🔹 Regulator Block honed in on scaling resources and strengthening supervision 🔹 NatSec Block was all about analyzing evidence to enable action 🔹 Command Block focused on intelligence-sharing to accelerate mission outcomes Read the full recap here ➡️ https://lnkd.in/eQrnJfhQ And check out the link in the comments to join the interest list for Block 2026 ⬇️

Most companies grow to sell more software. We grow to protect civilization. TRM is expanding with 30+ open sales positions to support the agencies and institutions confronting the most sophisticated financial crime on earth. The work is technical, urgent, and consequential — exactly what mastery-driven sellers are built for. If you’re looking to apply your skills to a mission that matters, we should talk. Come build with us! Check out our open roles and apply today 👉 https://lnkd.in/ecFgqR2b

🇸🇬 TRM was privileged to support the Singapore Police Force (SPF) and Digital Assets Association (DAA) 𝗝𝗼𝗶𝗻𝘁 𝗙𝗼𝗿𝘂𝗺 𝗼𝗻 𝗨𝗻𝗶𝘁𝗶𝗻𝗴 𝗔𝗴𝗮𝗶𝗻𝘀𝘁 𝗖𝗿𝘆𝗽𝘁𝗼 𝗦𝗰𝗮𝗺𝘀 last Friday. The event — which included presentations from both SPF and industry experts — unpacked some of the latest scam typologies, investigative techniques, and community efforts to combat crypto-enabled scams. TRM’s Angela Ang joined Jag Foo, CFtP, CPP, PSP, PCI (Safeheron); Akbar A. (Binance); Heather Armstrong (Federal Bureau of Investigation (FBI)); and SPF’s ASP Desmond Chia, ASP Kia Min, and ASP Shariff Munshi to unpack best practices in public-private partnerships. Angela emphasized the importance of real-time information sharing within a trusted community — the thesis behind TRM initiatives such as 𝗕𝗲𝗮𝗰𝗼𝗻 𝗡𝗲𝘁𝘄𝗼𝗿𝗸 and the 𝗧𝟯+ 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗖𝗿𝗶𝗺𝗲 𝗨𝗻𝗶𝘁. While we leverage the power of public blockchains to illuminate the flow of illicit funds, the power of community is just as critical. People coming together with passion, trust, and a shared purpose of combating financial crime is what enables on-chain investigations to help victims and deliver real results. Thank you to SPF and DAA for having us at this meaningful event!

🎧 On the latest episode of #TRMTalks, Tom Duff Gordon of Coinbase joins Ari Redbord to unpack the global #crypto policy landscape. Among other timely topics, they cover #stablecoin implementation challenges in Europe and APAC, and discuss how to best engage policymakers across the globe. Crypto regulation is moving fast, tune in now to stay ahead 👉 https://lnkd.in/eX47NNPr