On February 15, 2025, Argentine President Javier Milei sparked controversy after promoting a new cryptocurrency ($Libra) via his X account, describing it as a “private project” aimed at supporting the growth of the Argentine economy by funding startups.
💰 Within minutes, the value of the currency exploded to $4.5 billion, attracting thousands of investors. But the big shock came quickly, as the currency collapsed within hours, leaving behind huge losses!
🔎 LookOnChain platform analysis revealed shocking details:
✅ 82% of the total currency was held in only 4 wallets!
✅ Intermediary wallets bought huge amounts immediately after launch and then started selling them quickly, indicating internal manipulation by "Insiders"!
✅ The process has all the signs of a “rug pull” – a rapid inflating of the price and then a sudden withdrawal of funds!
🚨 President Milley's reaction:
As anger mounted, he deleted his original tweet and denied any direct connection to the project, claiming he was unaware of its details. But the Argentine opposition was not convinced, demanding an official investigation into his role in promoting the controversial project.
🔥 Not the first time!
In 2021, Mele was implicated in promoting CoinX, which was later accused of being a pyramid scheme. Is this just another “coincidence,” or is there a bigger plan behind the scenes?
⚠️ The most important lesson: Do not invest based on the statements of celebrities or politicians, and be careful of non-transparent cryptocurrencies!