Argentine authorities are deepening their investigation into the LIBRA memecoin fraud case, involving the country's president, Javier Milei.
Investigation Progress
Argentine Federal Prosecutor Eduardo Taiano has requested the freezing of $110 million in assets as part of the LIBRA cryptocurrency fraud inquiry. The prosecutor also called for the recovery of deleted social media posts where President Javier Milei allegedly promoted the memecoin and demanded detailed transaction records to reconstruct financial operations.
Internal Cryptocurrency Operations
Despite the deletion of the president’s initial post, several wallets linked to the LIBRA team managed to cash out up to $107 million before the token crashed. A recent $4.5 million transfer to a new address was detected, which was partly used to purchase another memecoin, POPE, raising suspicions of money laundering.
Political Implications
The LIBRA scandal has damaged President Milei’s popularity, prompting calls for his impeachment. Initially presented as a project to support Argentine small businesses, the memecoin's dramatic price drop and ensuing scandal have taken on a political dimension.
The ongoing investigation into President Milei’s connection to the LIBRA memecoin scandal may significantly impact Argentina’s political landscape.
