The investigation into President Javier Milei’s alleged involvement in the LIBRA cryptocurrency scandal has taken a significant step forward. Federal prosecutor Eduardo Taiano has requested freezing up to $110 million in assets linked to the case.
The probe revolves around accusations of fraud, bribery, and influence peddling, with Milei and several business people allegedly profiting from the digital asset.
Suspicious transactions and global links
As part of the investigation’s next phase, Taiano has ordered the collection of crucial digital evidence. Authorities are working to track down assets and monitor suspicious transactions.
They have also sought international cooperation, seeking data from foreign financial institutions and cryptocurrency exchanges that may have been involved in the operations.
One of the prosecutor’s primary focuses is preserving digital evidence. Detailed records of all transactions involving LIBRA since its inception are being sought to identify the recipients of the illicit profits.
Efforts are underway to recover deleted social media posts, including a tweet from Milei that promoted LIBRA in February. Investigators are also reconstructing financial operations linked to LIBRA, particularly from February 14 and 15, when the cryptocurrency saw its peak activity.
Freezing LIBRA wallets: Preventing illicit fund movement
While the total transaction volume has been established, identifying the operators remains challenging due to encrypted digital wallets. In addition, Taiano has requested the freezing of certain digital wallets identified during the investigation.
This measure aims to prevent the illicitly obtained funds from being transferred to other platforms, which could hinder tracking efforts. The prosecutor is also working on obtaining international warrants to access information about transactions on foreign cryptocurrency exchanges.
Efforts are underway to gather records that could reveal attempts at money laundering. Another key element of the investigation is identifying the individuals behind the scheme. Taiano has requested phone records and visitor logs from the Casa Rosada and the Olivos estate to establish potential connections between the suspects.
Tracking witnesses and financial moves
A list of witnesses, including blockchain experts and individuals close to the president’s inner circle, is also being compiled. Additionally, the prosecutor scrutinizes the suspects’ financial records to detect any unexplained increases in wealth or suspicious financial movements.
Investigators closely monitor recent transfers, including a $4.5 million move to a new digital wallet. Some funds have been used to purchase a memecoin called POPE, raising concerns about possible money laundering.
As the investigation progresses, the focus remains on gathering local and international evidence to determine the full extent of the scandal and the roles of those involved.
