Tether has blocked six new wallets from its Ethereum network, most likely linked to the Russian Finiko ponzi scheme.
According to blockchain intelligence firm ChainArgos, the wallet may have been making suspicious transfers to addresses linked to Finiko. However, no other notable suspicious transactions were observed at this address.
Finiko is a pyramid scheme that started in Russia in 2018 and caused victims to lose up to $95 million. Last year, Interpol arrested conman Edvard Sabirov in the UAE. However, several other members of the scam are still at large.
Tether also blocked TRON’s addresses. However, blockchain analysts were unable to identify any suspicious activity from that address. The wallet just made a significant transfer worth $7,000 USDT from Bitfinex. Tether has been actively monitoring wallets associated with cybercrime and illegal activity to ensure compliance with U.S. regulations.
However, these seven wallets do not appear to have any significant, clear connection to any major malicious activity. The stablecoin giant is also yet to issue a statement on this.