- The Argentine prosecutor has requested the freezing of assets related to the LIBRA token case.
- Opposition lawmakers have called for Milei’s impeachment over fraud, price manipulation, and financial misconduct.
The Federal Prosecutor in Argentina, Eduardo Taiano, has strengthened the LIBRA cryptocurrency investigation. It pursues the freezing of $100 million of relevant assets and reinstatement of previously deleted social media posts, even those posted by President Javier Milei.
Notably, the probe began after President Milei promoted the LIBRA token on February 14, 2025, describing it as a project to stimulate Argentina’s economy by funding small businesses and startups.
After his endorsement, the value of the token increased, and it reached a market cap of around $4.5 billion. Apart from that, a sudden drop in value by over 89% resulted in accusations of a rug pull scam, where the developers left the project after gaining huge investments.
Legal Actions and Measures in the LIBRA Case
Prosecutor Taiano has taken a few steps to further the investigation such as freezing assets. He has sought the freezing of crypto wallets linked with the LIBRA project to avoid the dissipation of funds earned through purported fraud.
The recovery of digital evidence is the second step where attempts are being made to recover deleted social media posts. Specifically, President Milei’s tweet advertising LIBRA, in order to know the promotional tactics used.
Moreover, the transaction records which detail the records of all LIBRA transactions since its launch have been requested to identify beneficiaries and trace suspicious financial movements.
In addition, Taiano has issued requests for international cooperation to access information from foreign cryptocurrency exchanges and financial entities potentially involved in the operation.
Political Repercussions
The scandal has ignited considerable political fallout such as impeachment threats. The opposition lawmakers have called for President Milei’s impeachment, accusing him of fraud, price manipulation, and financial misconduct.
Furthermore, complaints have been filed against Milei in Spain, focusing on individuals linked to the LIBRA project residing there part-time. President Milei has requested Argentina’s Anticorruption Office to investigate the misconduct. Also, established a task force to examine the circumstances surrounding LIBRA’s launch.
The Argentine prosecutor’s office has not issued an official response regarding the ongoing investigation. The authorities are working to uncover the full extent of the alleged fraudulent activities associated with the LIBRA cryptocurrency.
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