Argentine lawyer Jonatan Baldiviezo has filed a lawsuit against President Javier Milei in criminal court for promoting the cryptocurrency $LIBRA, developed by KIP Protocol and Hayden Davis, on his social media. The post caused the currency’s value to collapse, resulting in millions of dollars in losses for its investors.
Milei deleted the post after it was published, citing a desire to avoid speculation and limit further exposure. However, lawyers claim he was involved in an “illicit association” and committed fraud by promoting the cryptocurrency. The plaintiffs argue that Milei’s actions were essential to the crime, and they see his promotion as a classic case of a “rug pull,” where investors are lured into buying tokens but later abandoned.
The President’s Office maintains that Milei was unaware of the currency’s development and only promoted it because he does so with many entrepreneurs. However, other representatives from KIP Protocol claim that Milei changed his stance unexpectedly, causing the currency’s collapse. The case is now in the hands of the judiciary, which will determine if any individuals or companies linked to the project committed a crime.
Source: https://apnews.com/article/argentina-milei-cryptocurrency-fraud-charges-c0321f320a00cdb58edfb365ba8ce0f8