For the first time, the Argentine Justice ordered the Tether company to freeze a wallet holding the USDT stablecoin.
It is approximately 3.5 million USDT linked to alleged pyramid platform, Rainbowex.
According to the information provided by the weekly The Opinionof Saint Peter and Radio Alta Gracia“all Cryptocurrency wallets and bank accounts in the name of those involved were frozen and seized within the framework of the case investigating” this alleged Ponzi scheme.
Furthermore, in relation to this case More than 15 raids were carried out in various cities. At least 4 people were arrested and the search for suspects continues.
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At the international level, the Justice of the Province of Buenos Aires coordinated with Interpol the issuance of a “red alert” in order to capture Malaysian citizens, allegedly responsible for Bitcoin-previene-estafas-rainbowex/” target=”_blank” rel=”noreferrer noopener”>Rainbowex.
How is it possible to freeze USDT?
First of all, it is important to note that this is not the first time something like this has happened. CriptoNoticias has already reported cases in which the Tether company Ethereum-congelada-mas-1-millon-usdt/” target=”_blank” rel=”noreferrer noopener”>puts certain wallets on the “blacklist” by court order.
When this occurs, affected wallets cannot send or receive USDT. No matter how hard you try, the transaction does not take place.
The computer specialist details, Maximiliano Firmman:
“Many cryptocurrencies associated with other currencies such as the dollar are not decentralized even when they are stored on decentralized blockchains.”
Maximiliano Firmman, computer specialist.
Firtman adds that it is something “very simple” to do: “The USDT smart contract only lets you send USDT to another address if your wallet is not ‘blacklisted’, a logical value (true/false) that “it starts falsely.”
Furthermore, according to the computer scientist, “the case could occur that never removes you from the list and the company could ‘burn’ those USDT forever and replace them with others that would be given to the wallet that in this case the Argentine justice determines.” in the future, which could be a kind of judicial account.
Unlike what happens with USDT, bitcoin (BTC) It is a truly decentralized, unconfiscatable and uncensorable currency.
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