Argentine prosecutors have launched a bombshell investigation into President Javier Milei, targeting the libertarian leader for his alleged role in the $LIBRA cryptocurrency scandal. The crypto token, which debuted on Valentine’s Day 2025, went from hot commodity to toxic waste in hours. Nice gift for investors, huh?
Prosecutor Eduardo Taiano isn’t playing around. He’s opened a full investigation against Milei and several crypto big shots, including Hayden Mark Davis and Julian Peh. Taiano wants $110 million in assets frozen. Cash that magically disappeared when $LIBRA’s price tanked 90% faster than you can say “economic freedom.”
Prosecutor Taiano’s hunting Milei and crypto bros while $110 million vanished faster than libertarian promises.
The accusations are serious stuff. Criminal association. Fraud. Dereliction of duty. Even bribery. Basically, everything a president doesn’t want on their resume. Milei promoted the token on social media, then deleted the posts. Classic move. Too bad the internet never forgets.
The scandal erupted when developers reportedly withdrew around $100 million during the price spike. Pump and dump 101. Within days, more than 100 criminal complaints flooded in. People were mad. Really mad.
This isn’t just local drama. The FBI and U.S. Department of Justice are reportedly digging in. International law firms are circling like sharks, organizing class actions for burned investors. “Libragate” is going global.
The political fallout has been brutal. Calls for impeachment are growing louder. Milei’s popularity? Tanking like $LIBRA’s value. His government scrambled to create an investigative unit and ordered the Anti-Corruption Bureau to look into its own members. Talk about damage control.
Key figures under investigation include tech forum organizers Mauricio Gaspar Novelli and Manuel Terrones Godos, plus former securities commission employee Sergio Daniel Morales. Many victims could have avoided losses by storing their assets in secure hardware wallets instead of keeping them on exchanges. A government advisor already jumped ship on March 8th. The initial token price surged from practically nothing to $5.20 in just 40 minutes post-promotion, creating an artificial bubble that soon burst.
For a president who promised economic salvation, being linked to what looks like a massive crypto scam wasn’t in the campaign brochure. Argentina’s digital economy reputation? Crashed harder than the token.
