#MileiMemeCoinControversy #MileiMemeCoinControversy

A government source said Milei himself was the fraud's biggest victim.

"The only one on the face of this earth who was cheated is Milei," the source said, speaking on conditions of anonymity. "Javier promotes private projects all the time and will continue to do so."

Milei's government has championed market deregulation and taking a chainsaw to red tape.

The token was launched on a crypto exchange called Meteora, the same platform that launched the $Trump meme coin in January, a cryptocurrency that saw a rapid surge and slump in which an estimated 200,000 crypto wallets lost money.

Meteora co-founder Ben Chow denied in a post on X on Saturday that his team had any role in launching $LIBRA, adding that the firm "never had any access to the tokens or to Milei."

Chow added in a later post on Monday that the firm "had no involvement in the project at all beyond providing IT support, including commenting on the liquidity curve and helping verify the token's authenticity after the token was publicly launched."

Analysts said the opposition is unlikely to garner the votes to push through an impeachment proceeding. An ongoing probe of Milei's involvement could sap his government's momentum heading into midterm elections this year, handing the opposition a lifeline.

Some investors reacted on social media over the weekend in anger, saying they had been scammed out of their savings by the president of Argentina, while Milei's supporters defended him as the victim of politically motivated attacks.

Milei himself came out swinging, accusing his enemies in another X post on Friday of trying to take advantage of the situation.

"This increases our conviction to kick them in the ass," he added