There has been a new development in the LIBRA scandal, the international cryptocurrency scam involving Argentine President Javier Milei.
While LIBRA is remembered as a memecoin personally supported by Argentine President Javier Milei, in the latest development, the Argentine court decided to completely freeze the funds related to ‘LIBRA’.
Argentinian federal judge Marcelo Jorge has imposed an indefinite “exchange ban” on the assets of three individuals linked to the memecoin LIBRA, including Hayden Davis, according to Coindesk.
The decision was made at the request of Argentinian prosecutors, who alleged that Davis transferred $507,500 via Bitget just 42 minutes after Milei posted a selfie with him on January 30, and that the transfer was part of a suspicious flow of funds.
Authorities estimate that the LIBRA project may have defrauded hundreds of investors of $100-120 million.
Finally, it was also stated that the court’s freezing decision was a temporary freeze to prevent the concealment of criminal proceeds.
As you may recall, stablecoin company Circle also froze $57 million worth of USDC associated with the Libra team in May.
*This is not investment advice.