#InfiniHacked #BybitSecurityBreach
If the president of your country encouraged you to invest in a cryptocurrency, would you invest your savings in it?
Something similar happened to Clemente Varas Calado. When Argentine President Javier Melaye announced the launch of a new cryptocurrency on social media, 25-year-old Varas immediately invested $12,000.
But within a few hours, Clemente Varas lost more than half of his money.
"I thought it was safe to invest in 'Libra (dollar Libra)' because it was promoted by the president of Argentina," the Miami-based investor told BBC Mundo.
According to a criminal complaint filed in Argentina on Monday, President Melaye was part of an “illegal association” that defrauded more than 40,000 people and caused them more than $4 billion in losses.
Argentine President Javier Melaye denies allegations that he promoted a new cryptocurrency through his social media.
The price of this cryptocurrency, Libra, first rose rapidly but then suddenly fell, causing most people who invested in it to suffer serious losses.
A federal judge has now been tasked with deciding whether to proceed with fraud charges brought by multiple plaintiffs against President Melaye.
On Monday, Melaye dismissed the investors' complaints, saying their intentions were "well-intentioned." President Melaye says the number of victims of the fraud is no more than 5,000.
