Javier Milei in a cryptocurrency scandal

«I did not promote it, I simply shared it», declared the head of state to Jonny Viale from Todo Noticias. The Argentine president assured he had «acted in good faith» by sharing this cryptocurrency developed by KIP Protocol.

LIBRA$ aimed to «encourage economic growth by financing small businesses and startups,» as stated in the publication.

Milei deleted his message, which contained a link to a website selling digital currency, a few hours later, explaining that he «did not know the details of the project.» 

The Argentine president assured that he had «nothing to hide». According to him, the operators who made transactions on the cryptocurrency $LIBRA that evening are «high volatility traders» who were aware of the risks of their investment.

However, the publication X has sparked a wave of fraud accusations from those who invested in LIBRA$.

Lawyers who filed a complaint against the president suspect a ‘rug pull’, a term used when the developers of a crypto project raise funds from investors and then suddenly disappear with the proceeds, leaving investors with worthless assets.

One of the complaints filed on Monday by the NGO Observatoire du droit de la ville reports that the operations around $LIBRA have «affected more than 40,000 people with losses of over 4 billion dollars».

The political opposition (center-left) has also risen up, threatening to initiate impeachment proceedings against Milei.

The presidency announced that it would engage the Anti-Corruption Office to investigate a possible «improper conduct by a member of the government, including the president,» as well as the launch of this cryptocurrency «and all companies or individuals involved.»

The organization assured that President Milei «did not in any way participate in the development» of LIBRA$. One thing is certain, it is already a big scandal for the controversial right-wing president of Argentina.