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

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

The service operates on the Beacon Network, which TRM says comprises over 200 members and covers 80% of crypto transaction volume. When flagged funds reach network members, the average response time is measured in minutes.

TRM stated that Beacon Concierge has supported 15 cases across 14 institutions in 10 countries, freezing over $35 million. Its investigators are responsible for tracking funds, preparing evidence materials, tagging addresses, and assisting with requests for asset freezes and seizures.