BlockBeats news, on December 24, according to Bitcoin.com, the Argentine judiciary has ordered Tether to freeze 3.5 million USDT related to the suspected pyramid scheme Rainbowex. Law enforcement has simultaneously launched a large-scale operation, executing 22 search warrants and arresting 10 suspects, while issuing a red notice for two Malaysian suspects. This is the first time that the Argentine judicial system has directly cooperated with Tether to execute an asset freeze order.
Investigations show that Rainbowex lured investors with promises of high returns through cryptocurrency trading, while actually operating a closed system disconnected from public chains. Law enforcement revealed that the organization even hired actors to impersonate executives at events, with Polish actor Maurycy Lyczko admitting to receiving $1,500 to attend an awards ceremony. Institutions such as Lemon Exchange and Chainalysis provided technical support for this operation.