Crypto scandal: Forbes report exposes Libra fraud

A Forbes article called the cryptocurrency $LIBRA , promoted by Argentine President Javier Milei , the largest crypto theft in history . The controversy has generated repercussions both in the country and in the international market.

According to Forbes ’ report, titled “Argentina’s $4.6 Billion Cryptocurrency Scandal,” Javier Milei’s promotion of $LIBRA led to a market cap exceeding $4.6 billion . However, following the deletion of the initial post and the abrupt drop in the cryptocurrency’s value, thousands of investors suffered significant losses .

The Argentine justice system has launched investigations to determine the responsibility of Javier Milei and others involved in the promotion of $LIBRA. In addition, the United States Department of Justice is analyzing possible crimes related to the creation and collapse of the cryptocurrency.

Hayden Mark Davis , CEO of Kelsen Adventures and one of the creators of $LIBRA, has stated that he had no intention of harming investors and that he is willing to collaborate with the authorities. For his part, Javier Milei has denied any direct connection with the cryptocurrency, claiming that his promotion was an attempt to support private ventures without knowing the details of the project .

This scandal has affected investor confidence in the cryptocurrency market in Argentina, causing significant reputational damage . Experts warn of the need for greater regulation and financial education to prevent similar situations from happening again in the future.