Argentine prosecutor seeks to freeze $110 million in proceeds related to the Libra Memecoin scandal: report

According to The Block, Argentine federal prosecutor Eduardo Taiano is seeking to freeze over $110 million in assets related to the Libra meme coin scandal.

This scandal has attracted attention due to its potential connection to President Javier Milei.

According to local media reports, Argentine federal prosecutor Eduardo Taiano is actively seeking to freeze assets related to the Libra meme coin scandal, which has garnered attention due to its alleged connection to President Milei.

The focus of the investigation is on the meme coin Libra based on Solana, which Milly promoted on social media last month. With his support, the fully diluted market value of the token once soared to over $2 billion, then quickly collapsed, losing over 90% of its value. According to DexScreener’s data, the current fully diluted market value of the token is about $100 million.

According to local media Clarín’s report, Taiano has requested the freezing of over 110 million U.S. dollars in proceeds related to the sale of Libra. Taiano also intends to restore deleted social media posts, including Milei’s initial statement of support, and request access to the presidential palace and office phone records and visitor logs.

This case has sparked a political storm in Argentina, with opposition figures calling for the impeachment of Milai, despite his allies arguing that he was not directly involved in the creation of the token.

On February 14th, Mila posted a promotion for the Libra project on X, claiming that the project will provide funding for small businesses and startups to promote the Argentine economy. The post includes a link to the token website and its contract address on Solana.

Despite distancing himself from the project, denying detailed knowledge, and deleting his promotional posts, the prosecutor’s actions indicate a thorough investigation into his involvement.

Kelsier Ventures’ CEO Hayden Davis seems to play a central role in the Libra scandal, prompting the president to promote it.

In a video released in February, Davis claimed to be an advisor to Mila and closely collaborated with the presidential team. In January, a photo of him and Hayden Davis was also posted on Mila’s X account, which now seems to have been deleted.

In an interview with YouTube investigator Stephen Findeisen (also known as Coffeezilla), Davis also claimed to be the custodian of all profits after LIBRA’s collapse, worth over $110 million. Davis admitted to holding around $100 million in stablecoins from the token sale, as well as $13 million in liquidity fees, totaling approximately $113 million.