Tether blocks 6 wallets potentially linked to Finiko ponzi scheme

Tether has blocked six new wallets on the Ethereum network, likely due to being linked to the Russia Finiko ponzi scheme. 

According to blockchain intelligence firm ChainArgos, the wallets might have made suspicious transfers to Finiko-linked addresses. However, no other noticeable suspicious transactions were observed from these addresses.

You might also like: Coinbase CEO considers anti-crypto bills as ‘bad political strategy’

Finiko was a pyramid scheme launched in Russia in 2018, which saw victims lose up to $95 million. Last year, Interpol arrested the scam leader, Edvard Sabirov, in the UAE. However, several other members of the scam are still at large.

Tether also blocked an address from TRON; however, blockchain analysts identified no suspicious activity from that address. The wallet only was one significant transfer worth $7,000 USDT from Bitfinex. Tether has been actively monitoring wallets linked to cybercrime and illicit activities to ensure compliance with U.S regulators.

However, these seven wallets don’t seem to have any significant and evident link to major malicious activities. The stablecoin giant also hasn’t released a statement regarding this yet. 

Read more: Epic Games Store welcomes blockchain games despite ‘adults only’ ratings
Follow Us on Google News

Comments

Post a Comment

Popular posts from this blog

Shiba Inu Burns 200 Ethereum ETH: A Prelude to Trillions?

Image
The official team behind the widely popular meme coin, Shiba Inu (SHIB), has recently publicized the burning of a considerable amount of Ethereum (ETH). The disclosure conveyed through a post on X from the Shib account revealed that 200 ETH had been intentionally burnt within one month. With the current value of ETH standing at $2,376.37, this translates to a substantial $475,366.00 being permanently taken out of circulation. 🔥 Is it getting hot in here? Oh wait, it's just us burning some $Shib In just about a month, we've incinerated nearly 200 ETH worth. TX details in the first comment below. pic.twitter.com/YVEzb7SEPJ — Shib (@Shibtoken) January 9, 2024 Anticipatory Sentiments The announcement evoked diverse responses within the Shiba Inu community, with some members expressing excitement and anticipation for more substantial burns in the future. One Twitter user confidently asserted, “This is just the beginning. Shiba Inu will burn trillions soon, ...
Read more

Can Wormhole Crypto Sustain Its Momentum as Cross-Chain Meme Coin Presale Hits $12 Million Mark?

Image
Despite the subdued state of the crypto markets, Wormhole has captured attention due to its unique Features and recent price movements. Wormhole has now been activated across several prominent blockchains, including Ethereum, Arbitrum, Solana, and others. This rollout empowers users to swiftly transfer $W tokens without the need for liquidity pools. These tokens can function seamlessly as ERC-20 tokens on EVM-compatible chains and as SPL tokens on Solana, with EVM compatibility. This development opens up possibilities for the creation of multi-chain solutions. It marks a significant milestone for Wormhole, indicating the successful completion of the second phase outlined in their W token launch roadmap. The next phase is poised to introduce a multi-chain governance system, which, when combined with $W token staking for governance purposes, is anticipated to revolutionize the platform. $W Crypto Price Prediction The prevailing market sentiment regarding $Wasset is cautiously posi...
Read more

Chainlink Challenger Pyth Network Announces New Airdrop for Over 160 Dapps

A rival of blockchain oracle provider Chainlink (LINK) is announcing a new airdrop for over 160 decentralized applications (Dapps). In a new blog post, data aggregating service Pyth Network (PYTH) says that it is launching the second phase of its Retrospective Airdrop plan, which gives all Dapps using data provided by Pyth free tokens. “Readers can soon look forward to their favorite [Pyth-using] applications announcing their receipt of PYTH Governance Tokens and their plans on what they will do with their PYTH Tokens.” The plan was initially launched in November 2023, at the time becoming the largest cross-chain airdrop ever. According to Pyth, as of today, 51,000 users claimed over 163 million PYTH tokens, or 65% of the entire airdrop. “The first phase of the airdrop program oversaw the distribution of PYTH Tokens to DeFi (decentralized finance) participants, from EVM (Ethereum Virtual Machine) to Cosmos, to Solana, who interacted with these Pyth-powered app...
Read more