Argentina President Milei Accused Of Crypto Fraud

A congressional commission in Argentina on Tuesday released an investigative report accusing President Javier Milei of committing “alleged fraud” after he promoted a suspected cryptocurrency scam earlier this year.

The report, issued by the Chamber of Deputies and led by opposition lawmakers, stated that “the facts analysed would be compatible with an alleged fraud” and assigned “political responsibility” to Milei and his sister and close adviser, Karina Milei.

Hundreds of millions of dollars were lost by investors after Milei publicly endorsed the $LIBRA meme coin in February, writing on social media, “The world wants to invest in Argentina. $LIBRA.”

Industry experts later described the operation as a classic “rug pull”, a scheme in which developers launch a token, attract investors, and then abruptly cash out.

When $LIBRA collapsed within a day of its surge, Milei distanced himself from the fallout, saying he “did not know the details of the project.”

Dozens of legal complaints have since been filed against the president and others linked to the token. These cases were later consolidated under a single judge and prosecutor overseeing the broader investigation.

According to the legislative commission, its findings have been submitted to the court handling the matter. However, it remains unclear whether Congress will take further action on the scandal.

Newly elected lawmakers are set to take office on December 10, and the incoming Congress is expected to include more Milei allies, a shift that could reduce the likelihood of legislative follow-up.

The commission noted that it was unable to interview President Milei or his sister, as both failed to appear for questioning despite being summoned.