{"id":42797,"date":"2025-05-20T17:52:51","date_gmt":"2025-05-20T14:52:51","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=42797"},"modified":"2025-05-20T17:53:41","modified_gmt":"2025-05-20T14:53:41","slug":"argentine-president-milei-shuts-down-unit-investigating-libra-scandal","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/argentine-president-milei-shuts-down-unit-investigating-libra-scandal\/","title":{"rendered":"Argentine President Milei Shuts Down Unit Investigating $LIBRA Scandal"},"content":{"rendered":"<p class=\"\" data-start=\"76\" data-end=\"559\">While <strong>Argentina\u2019s<\/strong> economy continues to face numerous challenges, a recent scandal from the crypto world has shaken the country\u2019s <strong data-start=\"205\" data-end=\"228\">financial stability<\/strong> once again. The <a href=\"https:\/\/coinengineer.net\/blog\/microsoft-adds-blockchain-data-to-fabric-via-space-and-time-integration\/\"><strong data-start=\"245\" data-end=\"272\">LIBRA token controversy<\/strong><\/a>, which has been closely associated with President <strong data-start=\"323\" data-end=\"339\">Javier Milei<\/strong>, quickly evolved into a nationwide crisis affecting not only investors but also public trust. Now, the special unit investigating this scandal has been <strong data-start=\"492\" data-end=\"532\">shut down by President Milei\u2019s order<\/strong>. But how did it all begin?<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/argentine-president-milei-shuts-down-unit-investigating-libra-scandal\/#How_Did_the_LIBRA_Token_Scandal_Erupt\" title=\"How Did the LIBRA Token Scandal Erupt?\">How Did the LIBRA Token Scandal Erupt?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/argentine-president-milei-shuts-down-unit-investigating-libra-scandal\/#From_Market_Crash_to_Investigation_Shutdown_A_Surprising_Turn\" title=\"From Market Crash to Investigation Shutdown: A Surprising Turn\">From Market Crash to Investigation Shutdown: A Surprising Turn<\/a><\/li><\/ul><\/nav><\/div>\n<h3 class=\"\" data-start=\"566\" data-end=\"608\"><span class=\"ez-toc-section\" id=\"How_Did_the_LIBRA_Token_Scandal_Erupt\"><\/span>How Did the LIBRA Token Scandal Erupt?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p class=\"\" data-start=\"610\" data-end=\"894\">Known for his enthusiasm for cryptocurrencies, <strong data-start=\"657\" data-end=\"693\">Argentine President Javier Milei<\/strong> publicly announced his support for a new digital asset called <strong data-start=\"756\" data-end=\"773\">Libra (LIBRA)<\/strong> a few months ago. His endorsement was well received by investors, and the token attracted massive attention upon launch.<\/p>\n<p class=\"\" data-start=\"896\" data-end=\"1286\">However, the excitement quickly turned into chaos. <strong data-start=\"947\" data-end=\"970\">Blockchain analysis<\/strong> revealed that eight insider wallets collectively withdrew <strong data-start=\"1029\" data-end=\"1058\">$107 million in liquidity<\/strong>, leaving thousands of investors at a loss. Following this event, LIBRA&#8217;s <strong data-start=\"1132\" data-end=\"1196\">market capitalization collapsed from $4 billion to near zero<\/strong>. The Argentine stock exchange also reacted sharply, with indices dropping by over <strong data-start=\"1279\" data-end=\"1285\">6%<\/strong>.<\/p>\n<p class=\"\" data-start=\"1288\" data-end=\"1573\">Adding fuel to the fire, rumors emerged that the rug pull had been <strong data-start=\"1355\" data-end=\"1399\">known in crypto circles weeks in advance<\/strong>. <strong data-start=\"1401\" data-end=\"1421\">Jupiter Exchange<\/strong> claimed on social media that the LIBRA token launch was an &#8220;open secret in memecoin communities,&#8221; further intensifying <strong data-start=\"1541\" data-end=\"1572\">insider trading allegations<\/strong>.<\/p>\n<h3 class=\"\" data-start=\"1580\" data-end=\"1646\"><span class=\"ez-toc-section\" id=\"From_Market_Crash_to_Investigation_Shutdown_A_Surprising_Turn\"><\/span>From Market Crash to Investigation Shutdown: A Surprising Turn<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p class=\"\" data-start=\"1648\" data-end=\"1964\">In response to the growing public backlash, the Argentine government established a <strong data-start=\"1731\" data-end=\"1761\">special investigative unit<\/strong> to probe the organization behind LIBRA and the potential misuse of insider information. However, on <strong data-start=\"1862\" data-end=\"1878\">May 20, 2025<\/strong>, reports confirmed that <strong data-start=\"1903\" data-end=\"1963\">President Javier Milei has officially dissolved the unit<\/strong>.<\/p>\n<p class=\"\" data-start=\"1966\" data-end=\"2276\">The decision, made through a presidential decree, sparked a new wave of <strong data-start=\"2038\" data-end=\"2095\">distrust among both local and international investors<\/strong>. As the crypto market once again debates <strong data-start=\"2137\" data-end=\"2172\">transparency and accountability<\/strong>, many analysts interpret Milei\u2019s move as an <strong data-start=\"2217\" data-end=\"2275\">attempt to suppress the scandal rather than resolve it<\/strong>.<\/p>\n<hr \/>\n<p class=\"\" data-start=\"1966\" data-end=\"2276\"><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"nofollow noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>While Argentina\u2019s economy continues to face numerous challenges, a recent scandal from the crypto world has shaken the country\u2019s financial stability once again. The LIBRA token controversy, which has been closely associated with President Javier Milei, quickly evolved into a nationwide crisis affecting not only investors but also public trust. Now, the special unit investigating<\/p>\n","protected":false},"author":29,"featured_media":39162,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[11745,12472,16129,16130],"class_list":["post-42797","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-libra","tag-libra-token","tag-president-javier-milei","tag-unit-investigating-libra"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Argentine President Milei Shuts Down Unit Investigating $LIBRA Scandal - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/argentine-president-milei-shuts-down-unit-investigating-libra-scandal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Argentine President Milei Shuts Down Unit Investigating $LIBRA Scandal - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"While Argentina\u2019s economy continues to face numerous challenges, a recent scandal from the crypto world has shaken the country\u2019s financial stability once again. The LIBRA token controversy, which has been closely associated with President Javier Milei, quickly evolved into a nationwide crisis affecting not only investors but also public trust. 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