The legal heat around the LIBRA token is intensifying! 🔥⚖️ Burwick Law — known for spearheading class-action lawsuits in the meme token space — has officially requested a freeze on LIBRA assets held in wallets linked to Hayden Davis and other early team members & influencers.
🏛️ The Southern District Court of New York has granted an order to limit trading and transfers from these wallets, targeting both LIBRA and associated USDC assets.
💥 LIBRA was one of the most hyped meme tokens during its launch, raising over $250M — but it crashed spectacularly and never recovered, leaving retail investors with major losses. Now, the push is on to recover funds from the initial team’s token sales and diverted assets.
🔒 Highlights:
Burwick Law obtained a Temporary Restraining Order in the case of Hurlock v. Kelsier Ventures 🧾
The Libra Team 1 wallet has already had 13.06M USDC frozen by Circle 🧊💲
A total of $110M in proceeds are being tracked to wallets linked to Davis’s Kelsier Ventures 🕵️♂️
LIBRA is still trading on some exchanges, but with extremely low volume, making liquidation nearly impossible 📉
24,519 holders remain, but most tokens are still concentrated in team wallets 🤐
🇦🇷 With past ties to Argentina’s President Javier Milei, LIBRA was seen as more than just a meme, but it ultimately became a cautionary tale of hype and collapse.
Now, Burwick Law is working to make sure those responsible are held accountable and victims have a shot at getting compensated. ⚖️🛡️
Stay tuned for more updates as this case unfolds... 👀📲