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Did Argentina's President Fuel a Massive Crypto Scam?
🚨 A political memecoin just shocked the markets — and the victims are furious.
Argentina’s president, Javier Milei, recently threw his support behind a new token called $LIBRA, claiming it would “revolutionize private investment” and help boost the struggling economy. Backed by official-looking promotion, the token quickly caught fire in the local crypto community.
Within just 40 minutes, $LIBRA exploded from $0.000001 to $5.20 — a mind-blowing 500,000x gain.
But the excitement didn’t last…
Moments after the surge, the developers dumped 70% of the token supply, triggering a massive crash — an 85% drop that wiped out thousands of investors.
The backlash was instant:
⚖️ Over 112 fraud complaints were filed in just two days.
❌ Angry investors accused Milei of enabling a politically charged rug pull.
💸 Some victims called it “worse than FTX — at least they didn’t smile on national TV.”
Whether this was mismanagement, manipulation, or something more sinister, the damage is done — and the crypto world is watching.
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Lessons from the LIBRA meltdown:
Hype ≠ Trust
Political backing is NOT a green flag
DYOR (Do Your Own Research) is your only real defense
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