TechFlow news, on December 24, according to Bitcoin.com, Argentina's judicial authorities have ordered Tether to freeze $3.5 million worth of USDT linked to Rainbowex, a suspected pyramid scheme. Law enforcement launched a large-scale operation simultaneously, executing 22 search warrants and arresting 10 suspects, while issuing Red Notices for two Malaysian nationals. This marks the first time Argentina’s judiciary has directly collaborated with Tether to enforce an asset freeze order.
Investigations revealed that Rainbowex lured investors with promises of high returns from cryptocurrency trading but operated a closed system disconnected from public blockchains. Authorities disclosed that the group even hired actors to impersonate executives at events, including Polish actor Maurycy Lyczko, who admitted receiving $1,500 to attend an awards ceremony. Technical support for the operation was provided by institutions including Lemon Exchange and Chainalysis.
