TRM, Coinbase, and Ripple Introduce Beacon Network to Combat Cryptocurrency Theft

Formation of Beacon Network: A consortium including crypto firms, law enforcement, and security researchers has launched the Beacon Network to provide a real-time response system for crypto crime, enabling the freezing of illicit funds before they can be laundered.

Functionality and Collaboration: The network allows members like Coinbase, Binance, and PayPal to flag suspicious wallet addresses and share intelligence, facilitating immediate action against suspicious transactions across participating platforms.

Impact on Crypto Crime: Beacon Network aims to combat rising crypto crime, which saw over $2.1 billion stolen in the first half of 2025 alone, by quickly identifying and halting the movement of stolen assets linked to various criminal activities.

Previous Successes and Future Goals: The network has already traced millions in stolen funds, with a focus on dismantling operations tied to North Korean hackers, while promoting safety and integrity within the crypto ecosystem.