by Coinstrooper Crypto Articles
Quick Take
  • The explosive findings have sent shockwaves through the country’s crypto and political spaces, turning LIBRA into the most controversial token of the week.
  • As of this writing, LIBRA was trading at $0.00232, representing an increase of almost 31% in the last 24 hours.
  • The abrupt price spike comes at a tense moment, only hours after the climax of Argentina’s LIBRA investigation.
  • The report draws on months of testimony, blockchain forensics, expert analysis, and more than 2,000 pages of documentation.

What Happened

As of this writing, LIBRA was trading at $0.00232, representing an increase of almost 31% in the last 24 hours. The abrupt price spike comes at a tense moment, only hours after the climax of Argentina’s LIBRA investigation.

Hours earlier, the Investigative Commission formally submitted its final report to the Chamber of Deputies, concluding that “LIBRA was not an isolated incident,” according to Commission president Maxi Ferraro.

In his public statement, Maxi Ferraro, President of the LIBRA Investigative Commission, said the evidence shows a consistent “pattern of behaviors and responsibilities” across multiple previous token schemes, including the 2024 $KIP operation.

LIBRA Was a Textbook Rug Pull, Investigators Say

According to the report, the February 14 launch of LIBRA was engineered as a classic rug pull. Investigators argue the President’s tweet, described in the report as the “determining factor” behind LIBRA’s sudden price spike, created the perfect liquidity surge for insiders to cash out.

More than 114,000 retail investors were wiped out.

Investigators say they traced financial and operational links between the key organizers, comprising Novelli, Terrones Godoy, Hayden Davis, and Sergio Morales, and previous token schemes.

Market Context

The LIBRA price surged more than 30% on Wednesday, even as Argentina’s Congress released a devastating 200-page report accusing the token’s organizers and political allies of orchestrating a coordinated rug pull.

Misleading marketing,

Ferraro emphasized that the President’s political responsibility is inescapable, citing prior meetings with organizers, ignored warnings, and repeated attempts to obstruct legislative oversight.

Why It Matters

The explosive findings have sent shockwaves through the country’s crypto and political spaces, turning LIBRA into the most controversial token of the week.

LIBRA Pumps Over 30% in the Middle of a Scandal

Details

The report draws on months of testimony, blockchain forensics, expert analysis, and more than 2,000 pages of documentation.

The Commission asserts that LIBRA followed the same formula, citing:

Rapid hype amplification,

Insider positioning, and

An orchestrated exit.

The contract address was first revealed in the President’s own post on X (Twitter), enabling immediate public exposure and a surge of retail traders.

That rush proved devastating as the Commission found that:

87 wallets traded on insider information in the 22 seconds before Milei’s post went live.

Of those, 36 wallets earned more than $1 million each,

These findings further challenge Milei’s televised denial of widespread losses after initial reports cited over 1,300 Argentines affected by LIBRA’s crash.

Financial Links and Prior Coordination

These links were “confirmed by the judiciary,” according to the report, establishing continuity between LIBRA, KIP, and other prior projects promoted or amplified by political figures.