According to blockchain security firm PeckShield, Tether has added the Ethereum address “0x88E6…4d47” to its blacklist.
The blacklisted The wallet reportedly contains 13.144 million USDT on Ethereum and 2.66 million ROOST tokens on Base. Additionally, this address received 150 ETH in multiple transactions from “0x71B2…18a6,” a company known to have removed ROOST/WETH liquidity from the Base blockchain approximately nine months ago.
Meanwhile, blockchain detective ZachXBT recently discovered highlighted a possible connection between the blacklist and a recent indictment of two California men: Gabriel Hay and Gavin Mayo.
The US Department of Justice (DOJ) has accused them of orchestrating a $22 million rip-off across multiple NFT and digital asset projects. Projects listed in the DOJ report include Roost Coin, a token now tied to the blacklisted address.
Maybe the blacklist is related to this? pic.twitter.com/OvIBHIfGsb
— ZachXBT (@zachxbt) December 25, 2024
The $22 Million Carpet Pull Scandal
Last Friday, the DOJ unsealed a six-count indictment against Hay and Mayo charging them with conspiracy to commit wire fraud, wire fraud and stalking. From May 2021 to May 2024, the duo allegedly defrauded investors by promoting fraudulent NFT projects with false claims.
These include the now infamous Vault of Gems, Faceless and Roost Coin. Instead of delivering on their promises, Hay and Mayo are accused of abandoning the projects after raising millions.
In their plans, Hay and Mayo allegedly concealed their involvement by falsely naming others as project leaders. Especially when a project manager disclosed his role in the…
