Argentine prosecutor’s office demanded the freezing of assets of the LIBRA token team for $110 million

Law enforcers believe that President Javier Milei is involved in the fraudulent asset scheme

06.03.2025 - 09:35

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What’s new? Argentina’s federal prosecutor Eduardo Taiano has requested an asset freeze related to the Solana blockchain-based meme token Libra, which has attracted attention because of its alleged connection to President Javier Milei. Last month, in his X-account, Milei promoted LIBRA, saying the project would help Argentina’s economy by funding small businesses and startups.

Clarin’s material

What else is known? In his post, Milei provided a link to the token’s website and its Solana contract address and emphasized that “the world wants to invest in Argentina.”

After his post, LIBRA’s market capitalization rose to $4,5 billion, but then plummeted by 90%, raising suspicions of a Pump&Dump fraudulent scheme.

In addition, before LIBRA’s collapse, a small group of wallets holding most of the token hoard sold their assets and withdrew funds.

Milei has since deleted his tweet, however, he has been charged with fraud.

According to local media, prosecutor Taiano has requested the freezing of more than $110 million raised by the Libra startup and the recovery of deleted social media posts related to the project, including Milei’s tweet.

In addition, he requested phone records and visitor logs from the presidential residence and office.

Taiano also asked international crypto exchanges, law enforcement, and regulatory agencies to assist in freezing the funds of the project organizers.

The case has sparked a political uproar in Argentina, where opposition members have called for Milei’s impeachment, although his allies say he was not directly involved in the creation of the token.

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