A major investigation in Argentina is attracting public attention following reports of a deal worth approximately $5 million related to the promotion of the $LIBRA memecoin.
According to documents allegedly recovered from the phone of businessman Mauricio Novelli, the deal included three separate payments with a potential total value of up to $5 million. However, investigators say there is no evidence to confirm that the entire amount was actually paid.
The incident began on February 14, 2025, when President Javier Milei posted on social media introducing the $LIBRA token, describing it as a project to support investment in businesses and startups in Argentina.
This post triggered a massive market reaction:
📈 The token price surged from almost zero to approximately $5 in just ~40 minutes.
But this pump didn't last long.
Subsequent blockchain analysis revealed that a group of related wallets withdrew approximately $99 million in liquidity, causing the token price to collapse rapidly, resulting in significant losses for many investors.
Currently:
• Over 100 criminal complaints have been filed in the Argentine federal court.
• Congress has established a special investigative committee to review the entire case.
For his part, President Javier Milei maintains that he only shared information about the project and was not involved in the development or operation of this memecoin.
Nevertheless, the $LIBRA case is considered one of the biggest politically charged crypto scandals in Argentina in recent years.
💡 In crypto, a single tweet from an influential person can generate hundreds of millions of dollars in volatility — and sometimes, the price falls on later investors.
#Crypto #Memecoin #LIBRA #Blockchain #Crypto #Memecoin #LIBRA #Blockchain #CryptoNews