According to Bitcoin News, Argentine authorities have ordered Tether to freeze $3.5 million in assets related to the Rainbowex, which is suspected of being a pyramid scheme. The operation executed 22 search warrants and detained 10 people in a major sweep in San Pedro, and also issued two red notices for international arrest for two Malaysians. Rainbowex disguised itself as a legitimate platform, claiming to provide investors with high returns through cryptocurrency trading and capital flow. According to the investigation, the system is a closed loop that is not connected to the public blockchain. When investors tried to close their accounts and withdraw their profits, the system refused to execute, and the problems began.