This is not a fake at all — the President of Argentina, Javier Milei, promoted the meme cryptocurrency $LIBRA, which then collapsed, and investors incurred significant losses.
Details of the scandal
Milei posted on social media, supporting the $LIBRA project as "revolutionary for the economy."
After the publication, the price of the token skyrocketed, people started to enter and invest. But soon the author of the post deleted the publication and wrote that he did not know the details.
Opponents claimed that this was a rug pull — when a project is artificially hyped, attracts investors, and then 'zeros out' their investments.
112 criminal complaints were filed against Milei on a wide range of fraud allegations.
This case has already been dubbed Cryptogate — the first major political scandal related to cryptocurrency in modern Argentina.
