Libragate Unfolds: Argentine Prosecutor Targets $110 Million in Frozen Funds

The case, which involves potential insider trading and financial misconduct, has drawn attention due to the involvement of President Javier Milei, who previously promoted the token.

According to Clarin, a local media outlet, Taiano has also asked for the recovery of deleted social media posts, including those where Milei endorsed LIBRA. Investigators believe these posts may have influenced trading activity.

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In addition, he has requested transaction records to track LIBRA’s trading patterns, particularly from February 14 to 15, when its trading volume peaked.

Authorities have identified eight wallets linked to the LIBRA team that collectively withdrew around $107 million before the token’s value collapsed.

Recently, investigators traced $4.5 million from one of these wallets to a new address, where some funds were used to buy another meme coin, POPE. Officials suspect this could be an attempt to move or conceal funds.

To prevent further asset transfers, the prosecutor has requested phone logs and visitor lists from the presidential residence and office while compiling a list of blockchain specialists and individuals who may have relevant information.

Furthermore, Taiano has called for digital wallets associated with the case to be frozen. He has also filed international requests for data from foreign crypto exchanges to trace cross-border transactions.

Recently, Nansen, a blockchain research firm, analyzed trading data and found that most investors in the LIBRA token suffered losses. How much did they lose? Read the full story.