Argentina President To Probe $Libra Token Scam 

A caller cryptocurrency, $LIBRA, has ignited a heated statement successful the corridors of Crypto Town. Recently Argentina’s President Javier Milei allegedly promoted a caller cryptocurrency which turned retired to beryllium a scam. On Friday night, Milei promoted $LIBRA done his X relationship and stated that it would boost the system and enactment section enterprises. This promotion gave a abrupt propulsion to the LIBRA token price.

The $LIBRA token touched a precocious of $5.00  and past it crashed astir 90% reached nether $1 price, and mislaid implicit $4.4 BILLION from the marketplace owed to its legitimacy concerns.

Later on, President Milei deleted the X station and clarified that helium was not associated with the project. In the X helium said, “A fewer hours agone I posted a tweet, arsenic I person truthful galore different times, supporting a expected backstage endeavor with which I evidently person nary transportation whatsoever. I was not alert of the details of the task and aft having go alert of it I decided not to proceed spreading the connection (that is wherefore I deleted the tweet).”

However, till past the harm was already done. The Libra token scam sparked outrage connected the internet. In response, President Milei ordered a probe into the $LIBRA token launch.

On 16 Feb, The Office of the President reported that the archetypal promotion of the coin was a regular concern endorsement aimed astatine creating jobs, getting investments, and economical welfare. The task was not officially associated with the President. 

The statement highlights that the president has decided to instantly prosecute the Anti-Corruption Office (OA) to analyse whether immoderate subordinate of the Government, including the President himself progressive successful the LIBRA’s scam and its launch.

Moreover, the study mentioned that the President of the Nation has decided to make an Investigation Task Unit (UTI) which volition enactment nether the nonstop supervision of the President. The squad volition dwell of assorted members who person authorization implicit areas similar cryptocurrencies, fiscal transactions, and wealth laundering.

This task unit aims to analyse the motorboat of the $LIBRA cryptocurrency and analyse each the companies oregon individuals connected to it including the KIP protocol.

KIP protocol debunked the allegations and declaimed his engagement successful the cryptocurrency launch. The institution claims that the merchandise and instauration of LIBRA cryptocurrency were wholly managed by Kelsier Ventures and its initiator, Hayden Davis.

Also Read: Argentina Prez $LIBRA Crypto Token Row: Who Won and Who Lost?