According to the lawsuit, token developers secretly manipulated liquidity and misled the investors with false promises, deceiving people by millions of dollars. Libra was positioned as a project to stimulate the Argentine economy, and even received the support of the President of Argentina Havier Milei. Miley advertised token in his social networks, and after the collapse of the Libra course, he said that this was a mistake, because he did not know the details about the crypto project.
The plaintiffs argue that token developers artificially overstated prices using a unilateral liquidity pool. To maintain control over the Libra course, its creators withheld 85% of the token proposal. After the trading began, the insiders led $ 107 million, which led to the collapse of the Libra exchange rate by 94%, and in the meantime they were able to make a profit due to nothing suspecting investors, approved in court documents.
In addition to court lawsuits, the Libra incident with a token attracted the attention of politicians. The opposition in Argentina calls on to the impeachment of Milea, accusing him of fraud, insider trade, conspiracy and abuse of official position. The Libra token scandal greatly damaged the image of Milea as a leader, focused on restoring the economy and the fight against corruption. The president’s rating decreased from 55% to 45%.
Meanwhile, the Argentine lawyer Gregorio Dalbón requested from the Interpol “Red Notification” on the general director of Kelsier Ventures Hayden Davis, who received a profit of $ 100 million from a crypto project. justice.
Libra token was launched on SOLANA on February 14. His market capitalization quickly reached $ 4.4 billion, but soon the token collapsed. Almost 75,000 traders lost more than $ 280 million. In March, the Argentinean prosecutor’s office demanded local crypto -rhizas to freeze cryptoactives collected on investments in a collapsed token.
Source: Bits
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