The website tied to Argentinian President Javier Milei’s Viva La Libertad Project, which supposedly provided the utility case for the controversial LIBRA token, has been taken down while millions of dollars from LIBRA-connected wallets continue to move.
The Viva La Libertad Project site allowed small Argentinian businesses to apply for funding that would supposedly be raised via profits from the LIBRA token.
Milei publicly endorsed the token on February 18 and since then, its market capitalization has crashed 99%. The project is now mired in numerous lawsuits and links to corruption, with investigators working to discover exactly what happened and recoup victims’ funds.
Programmer Maximiliano Firtman noted that the Viva La Libertad site lasted nine months before its disappearance and suggests that the individuals running it have either intentionally shuttered it or are now no longer able to pay for Weglot, the third-party service keeping it online.
Read more: Hayden Davis sent millions in crypto weeks before LIBRA promo
He ruled out the possibility of a temporary server error, such as an SSL issue, causing the website’s demise, or the scenario where a prepaid plan might’ve run out.
Firtman also claims that the form businesses used to apply for funding is still online, and that Hayden Davis, one of the individuals accused of orchestrating the LIBRA token, once knew how many people had applied.
This is despite the fact, Firtman says, that no one has claimed to be the administrator of the site during any legal proceedings.
LIBRA funds move as courts decide freezing order
Earlier this week, crypto analysts reported that a “Milei” multisig wallet started moving funds, including $9 million worth of SOL.
This crypto was converted into the stablecoin USDC and bridged to another blockchain. Blockworks analyst Fernando Molina says the funds are now sitting in a TRON wallet as USDT.
This happened days after multiple wallets tied to LIBRA began to convert $61.5 million worth of USDC into SOL. Burwick Law, a crypto law firm leading a US case on behalf of LIBRA victims, suspected these transactions were the “the ‘staging’ phase for anonymization,” and applied for a freezing order.
The order is still being debated by both the defendants and plaintiffs and would prohibit the defendants from using anonymization-enhancing mechanisms to move the crypto.
A hearing has been scheduled today that should decide the outcome of the proposed order.
Read more: Hayden Davis hit with asset freeze as LIBRA investigation deepens in Argentina
As for the LIBRA investigations in Argentina, this month an Argentine congressional committee released a final report into the scandal that called for Congress to evaluate whether Milei carried out misconduct within his office.
It also advocated for criminal charges to be filed against various executive branch officials for refusing to cooperate with the investigation, including the country’s Minister of Justice, head of the Anti-Corruption Office, and the former head of the LIBRA investigation unit that was disbanded by Milei in May.
An Argentinian judge has already ordered this month the freezing of property and financial assets belonging to Davis and two other cryptocurrency “intermediaries” tied to the LIBRA token.
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Source: https://protos.com/libra-website-vanishes-with-millions-in-project-funds-on-the-move/