Argentina’s justice system has taken a firm stance against crypto fraud by ordering the freeze of over $3.5 million in USDT linked to Rainbowex, a suspected pyramid scheme. This decision follows a comprehensive investigation involving 22 search warrants and the detention of 10 individuals. Rainbowex deceived investors with false promises of high returns through crypto transactions.

The operation underscores the increasing attention being given to combating fraudulent activities in the crypto space by authorities in Argentina, aimed at protecting investors. The collaboration between law enforcement and fintech experts highlights the seriousness with which such scams are being tackled.