Argentine prosecutor aims to freeze assets in LIBRA memecoin fraud case

The pb authoritative investigating Argentine President Javier Milei’s alleged engagement successful the LIBRA cryptocurrency ungraded has requested the freezing of arsenic overmuch arsenic $110 cardinal successful assets. 

Argentine Federal Prosecutor Eduardo Taiano has besides requested the betterment of deleted societal media posts, including those made by Milei promoting the Solana-based memecoin, according to section media outlet Clarín.

He besides requested elaborate records of each LIBRA transactions since it launched with the purpose of reconstructing fiscal operations conducted astir Feb. 14 to 15, erstwhile the memecoin’s commercialized measurement was highest. 

Taiano has requested the freezing of identified integer wallets to forestall money dispersal and drafted planetary requests to entree accusation from overseas cryptocurrency exchanges, the study added. 

Despite Milei deleting his archetypal endorsement, astatine slightest 8 wallets identified arsenic insiders linked to the Libra squad managed to cash out arsenic overmuch arsenic $107 cardinal earlier the token crashed, according to information shared by the Kobeissi Letter.

Deleted Libra tweet. Source: Kobeissi Letter

Investigators person already identified a caller question of $4.5 cardinal from a wallet connected to the ungraded to a caller address, with immoderate funds utilized to acquisition a memecoin called POPE, perchance arsenic an effort to launder the funds speculated Clarín. 

The authoritative has requested telephone records and visitant logs from the statesmanlike residence and bureau portion creating a database of blockchain experts and radical adjacent to the statesmanlike ellipse who mightiness person applicable information.

Related: Argentina’s crypto adoption hopes dim aft Milei’s LIBRA memecoin scandal

Libertarian Milei faced calls for impeachment aft endorsing the memecoin that was allegedly created to assistance money Argentine tiny businesses and startups. 

The Libra token concisely roseate to a highest marketplace capitalization of $4.5 cardinal connected Feb. 14 earlier tanking implicit 90% successful little than 12 hours, sparking accusations of an insider rug propulsion and the consequent lawsuits and national investigation. 

LIBRA terms has collapsed to $0.10. Source: CoinMarketCap

Milei refuted claims that helium promoted the memecoin, stating successful February that helium simply “spread the word.” 

The scandal, dubbed locally arsenic “Libragate,” has dented Milei’s popularity and hindered his efforts to fortify governmental alliances up of legislature midterm elections this year, reported Reuters successful precocious February. 

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