The LIBRA memecoin project is under criminal investigation in Argentina after skyrocketing and then dropping 90% within just 12 hours, causing investors to lose hundreds of millions of USD.
President Javier Milei is suspected of having praised the project online before hurriedly deleting the post. Prosecutor Eduardo Taiano has requested the freezing of 110 million USD, the restoration of the deleted post, and an examination of transactions. Initial findings showed that 8 'insider' wallets withdrew 107 million USD just before the price collapsed.