X @BSCN

Key Initiative - Crypto industry launches Beacon Network to combat crypto crime, aiming to detect and freeze illicit funds in real-time [1] - Beacon Network links crypto exchanges, payment firms, security researchers, and law enforcement agencies [2] - The network enables verified members to flag suspicious wallets, trace funds, and trigger instant alerts [2] Security & Compliance - The initiative aims to shift the industry from slow reactions to proactive interdiction [3] - Participating platforms can block withdrawals and preserve evidence for investigators [2] - Beacon Network is described as a "safe, trusted marketplace" and a "true early-warning system" [3] Financial Impact & Estimates - TRM estimates over $47 billion flowed to fraud-related addresses since 2023 [3] - $2.3 billion was lost to hacks in 2025 alone [3] Industry Collaboration - Beacon Network marks the industry's largest coordinated effort to safeguard crypto's financial rails [4] - The initiative unites rivals and regulators in real-time defense [4]