Legal Action Against President Javier Milei Over Libra Token Controversy
Lawyers in Argentina are taking significant steps to hold President Javier Milei accountable for his alleged involvement in the controversial ‘rug pull’ of the recently launched Libra token. According to a report by the Associated Press, the plaintiffs have formally accused Milei of committing fraud, asserting that his withdrawal of supportive messages regarding the token led to a dramatic loss of value, effectively ‘rug pulling’ investors.
The President’s office has publicly stated that it was not fully aware of the intricate details surrounding the Libra token’s launch. They emphasized that Milei merely promoted it in the same manner as he does with numerous other projects and startups emerging from Argentina. “The President shared a post on his personal accounts announcing the launch of KIP Protocol’s project, as he does daily with many entrepreneurs who wish to launch projects in Argentina to create jobs and attract investments,” the President’s Office conveyed to the Associated Press. They also noted that Milei had met with the team behind the token at his office.
As of now, Milei has not been formally charged with any crime. The Associated Press has reported that prosecutors are scheduled to convene on Monday to assess whether this case warrants further investigation and legal action. In an intriguing twist, on-chain researchers have suggested that the team responsible for the Libra token may be linked to the creators of the Melania token, citing a notable overlap in the wallets associated with both projects.
