Tether blocks six wallets associated with Finiko

Acryptoinvest.news: Tether has blocked six new wallets on the Ethereum network, likely due to connections with the Russian financial pyramid Finiko.

According to blockchain analytics company ChainArgos, wallets may have made suspicious transfers to addresses associated with Finiko. However, there were no other notable suspicious transactions from these addresses.

Finiko is a financial pyramid scheme launched in Russia in 2018, whose victims lost up to $95 million. Last year, Interpol arrested the leader of the scam, Edward Sabirov, in the UAE. However, several other participants in the scam are still at large.

Tether also blocked the TRON address; however, blockchain analysts did not identify any suspicious activity from this address. There was only one significant transfer in the wallet for $7,000 from Bitfinex. Tether actively monitors wallets associated with cybercrime and illegal activities to ensure compliance with US regulatory requirements.

However, these seven wallets do not appear to have any significant or obvious connection to major malicious activity.. The stablecoin giant has also not yet released a statement on this matter.