Taking a shocking decision, President of Argentina Xavier Milei has dissolved the Activity Drive investigating the Libra Crypto RIP-Off. Let us tell you that President Xavier Milei himself promoted Libra Challenge on social media. At one time, the price of Libra Token had reached the sky -touching market of $ 5 billion, but suddenly its prices started falling and it came to the floor from Arsh. Now the price of Libra Token has come on zero. After this Crypto RIP-off in Argentina, President Xavier Milei was constantly targeted by the opposition, but now the decision to suddenly stop the investigation has done the work of pouring ghee to the fire.
What was Libra MemeCoin RIP -off?
Libra one Memecoin Was, which some promoters had promoted as an ‘option’ for virtual marketers and later also joined President Xavier Milei in this campaign and shared on their social media handle X (East Twitter), after which the price of Libra Tokeen reached $ 5. A large number of people invested after this boom, but soon it became Marketplace Accident and investors lost millions of dollars. According to the report, around 15,000 wallets incurred a loss of over $ 1,000, with the total loss of over $ 251 million.
Task Force formed for investigation
When the name of President Xavier Milei also came to light in this scandal, politics was hot. Libra Meme Coin RIP-off high-level investigation begins in Argentina Was done. In February 2025, a task force named ‘Unit of Taskforce Investigation) was formed, but now President Xavier Milei and Justice Minister Mariano Cúneo Libarona have also disturbed the same task force by signing a decree. The official statement issued by the government said that the investigation team has completed its work, while the opposition alleges that this decision is an attempt to suppress the truth.
President said, I did not motivate anyone to invest
As the controversy escalated, Argentina President Xavier Milei told the media that I did not motivate anyone to invest, but ‘just shared’ on the social handle. He also claimed that ‘maximum 5,000 people’ were affected in the scam, mostly Americans and Chinese and only 4 to 5 people in Argentina were damaged. However the real situation is completely different. Blockchain information shows that the loss is quite large and the accumulated capital of thousands of people in Argentina has been cleared in this scam.
Conclusion
Incidents like Libra Scandal clearly suggests how dangerous cryptocurrency can be without regulations. When the President of a country promotes a token himself and later takes away it, then the trust of the public is bound to break. A lesson can be taken from this case of Argentina. In such a situation, clear laws, transparent investigation systems and safety of investors are very important regarding cryptocurrency, otherwise there may be big economic scams in the coming times.
