Argentinean Javier Milei is facing accusations of fraud for cryptocurrencies | Crypto News

Argentina’s judge was tasked with investigating President Javier Milei’s relations with the Crypto currency of $ Libra, in the midst of a fraud allegation.

On Monday, federal judge Maria Servini was randomly elected to hire a probe, which would consider whether Milei seemed illegally.

Some opposition politicians have warned that Milei could even face the trial for impeovel, depending on the outcome.

The scandal broke out on Friday, when a cryptocurrency was launched. Milei used his own social media account on X to promote a crypto coin, saying that he was designed to encourage “economic growth by funding for small businesses and startups.”

Beloved with such high support, the Crypto currency briefly reached $ 4 billion in market capitalization. But his value quickly began to descend, which made some call it fraud or fraud.

As the value of $ scales dipped the nose, Milei deleted his post.

The critics questioned whether this was an example of the fraud of the “rug pulling”, where initial investors increase the value, only to suddenly withdraw their investments, which led to a fast currency of the currency.

The victims of such schemes generally remain worthless coins, while the architect of fraud depends profit from the height of the value of the crypto currency.

By Saturday, Milei’s office announced a statement by distanced the president of $ Libra, emphasizing that he was not involved in the development of the currency.

The statement also explained that Milei had the habit of promoting business ventures, including the programmer of the cryptocurrency protocol, as part of his free market platform.

“The president has shared the post on his personal accounts, announcing the launch of the KIPO Proocol project, as is done daily with many entrepreneurs who want to launch projects in Argentina to create jobs and attract investment,” said the president’s office.

One anonymous government official told the Reuters news agency that if anyone was the victim of a quick climb and the Crypto currency falls, it is Milei himself.

“The only one on the face of this country who was cheated was Milei,” the officer told Reuters. “Javier is constantly promoting private projects and will continue to do it.”

However, critics pointed out that the Crypto currency was sold on the website called VivalibertadProject.com, which uses Milei’s slogan, “Long Live Liberty!”

They accused Milei of being a cryptocurrency scheme.

Jonatan Baldiviezo, a lawyer and one of the prosecutors in the case on Monday, told the Associated Press news agency that Milei is personally responsible.

“Within this illegal association, a crime of fraud was committed in which the president’s proceedings were key,” Baldiviezo said.

Observatory del Derecho a la ciudad, a local non -governmental organization (NGO) that filed a lawsuit, also accused Milei of costing thousands of people.

“We denied Milei as part of an illegal association that organized a fraud with a cryptic currency $ libra, which at the same time influenced more than 40,000 people with loss of more than $ 4 billion,” the NGO said on its website.

Even Hayden Davis, one of the cryptocurrency developers, blamed Milei for a sudden fall in value.

“Despite the previous obligations, Milei and his team unexpectedly changed their position, withdrew their support and deleted all previous posts on social media,” Davis said in the video.

Experts say that Milei is unlikely to deal with the hearing of a sadness because of the scandal, but this could demolish his economic credibility ahead of the Middle -Parents’ elections in 2025.

For his part, Milei blamed his political opponents for restlessness in the publication of social media late on Friday.

“This increases our belief that we throw them out in [a**]”, He wrote.