$SOL $BTC $ETH Did Argentina's President Fuel a Massive Crypto Scam?
šØ A political memecoin just shocked the markets ā and the victims are furious.
Argentinaās president, Javier Milei, recently threw his support behind a new token called $LIBRA, claiming it would ārevolutionize private investmentā and help boost the struggling economy. Backed by official-looking promotion, the token quickly caught fire in the local crypto community.
Within just 40 minutes, $LIBRA exploded from $0.000001 to $5.20 ā a mind-blowing 500,000x gain.
But the excitement didnāt lastā¦
Moments after the surge, the developers dumped 70% of the token supply, triggering a massive crash ā an 85% drop that wiped out thousands of investors.
The backlash was instant:
āļø Over 112 fraud complaints were filed in just two days.
ā Angry investors accused Milei of enabling a politically charged rug pull.
šø Some victims called it āworse than FTX ā at least they didnāt smile on national TV.ā
Whether this was mismanagement, manipulation, or something more sinister, the damage is done ā and the crypto world is watching.
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Lessons from the LIBRA meltdown:
Hype ā Trust
Political backing is NOT a green flag
DYOR (Do Your Own Research) is your only real defense
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#CryptoNews #LIBRA #JavierMilei
#PumpAndDump #ScamAlert #DeFiDrama #BinanceSquareTalks #Web3News