According to BlockBeats news, on December 24, Bitcoin.com reported that the Argentinian judicial department has ordered Tether to freeze $3.5 million in USDT related to Rainbowex, an alleged pyramid scheme. Law enforcement agencies simultaneously launched a large-scale operation, executing 22 search warrants and arresting 10 suspects. At the same time, a red notice was issued for two Malaysian suspects. This is the first time that the Argentine judicial system has worked directly with Tether to enforce an asset freezing order.
The investigation showed that Rainbowex used cryptocurrency transactions to obtain high returns as bait, and actually operated a closed system that was disconnected from the public chain. Law enforcement authorities revealed that the organization even hired actors to pretend to be executives to participate in events. Among them, Polish actor Maurycy Lyczko admitted to charging US$1,500 to attend the awards event. Institutions such as Lemon Exchange and Chainalysis provided technical support for this operation.
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