Argentina’s President Milei under scrutiny after promoting and deleting post on cratered LIBRA token
The Argentinian lawyers filed a complaint against fraud against President Javier Milei after promoting, but then removed a position on X on the Balance token, which then dropped.
Friday, February 14, ArgentinaPresident Javier Milei posted on X on the so-called token balance, saying that he would “encourage the growth of the Argentinian economy” by funding small businesses, according to a Associated Press report. After the announcement, the value of the token quickly gained 3,223% but crashed later by 90% while Milei removed the position five hours later, saying that he had not been aware of details of the project.
His administration later described promotion as a routine, saying that Milei only maintained entrepreneurs. The president also announced an investigation to find out if someone in his government had acted badly.
The political opposition of Argentina now condemns Milei, former president Cristina Fernández de Kirchner accusing her of deception. Some legislators put pressure on a congress investigation and even a dismissal.
On Sunday, a group of lawyers officially accused Milei of fraud, saying that its actions resembled a “carpet shooting” scam, where the developers attract investors before abandoning a project. Lawyer Jonatan Baldiviezo argued that Milei’s involvement was essential to alleged fraud. The country’s anti-corruption office is currently examining the case.
The Crypto project, developed by Kip Protocol and Hayden Davis, allowed investors to buy tokens via a website referring to the famous Milei slogan. Later in a video article on X, Davis blamed the president for the accident:
“Despite the previous commitments, Milei and his team have changed unexpectedly, withdrawing their support and deleting all previous messages on social networks.”
Milei, on the other hand, rejected criticism as political opportunists, insisting that he had no connection with the project. A judge is expected to examine the case this week.
Potential initiate activity
Blockchain analysts say that someone was planning to launch the balance, but bought too late, losing more than $ 5.3 million in crypto. Despite this, an unknown initiate seems to have been offset by a value of $ 5 million in the USD part of Circle (USDC), according to Lookonchain in a February 17 job On X., rumors suggest that the portfolio can belong to Dave Portnoy, who received balanced tokens for promotion and had ready to buy funds in advance.
Bubblemaps analysts have linked Wallet in a chain to the Balance creator, which collected $ 87 million after the launch. The portfolio also pulled the balance – which means that it quickly bought the token at a low price before its value increased – and made $ 6 million using lateral addresses funded via a transverse protocol.
Bubblemaps notes that a similar chain activity has been observed with Melania’s official same (Melania) Coin, which has lost more than 84% of its value since its launch.
The team also found other tokens attached to the wallet, such as confidence, KACY, vibrations and hood, which they think were pump-and-dump patterns. Bubblemaps says that the Balance creator has made more than $ 100 million in these projects.
Post Comment