Argentina Dismantles Investigative Task Force into President Milei’s Libra Token Scandal

The Argentine government has dismantled the Investigative Task Force, a body created to investigate the Libra crypto scandal and possible links to President Milei. The task force was created 3 months ago, after the Libra scandal became public. Investigators are also looking into people associated with the president, such as his sister Karina. President Milei and Justice Minister Mariano Cuneo Libarona signed off on dismantling the investigation. The task force was tasked with investigating Milei’s links to the Libra scandal because the President promoted the coin just before the developers conducted a rug pull, withdrawing the project funds and crashing the price. The Argentine government, however, believes that the task force has finished its task.

Decree 332/2025 stated that the investigation was complete and that the task force would forward its findings to the Public Prosecutor’s Office. The task force has not made its findings public yet. The Public Prosecutor will decide whether there is enough proof to pursue the case. The task force performed a thorough investigation, collaborating with various bodies, including the Central Bank and the Anti-Corruption Office. Milei maintains that he did not promote the project but merely passed on a link.

Judge Maria Romilda Servini recently ordered the Central Bank of Argentina to release bank records of President Milei and his sister Karina Milei. Internal documents suggest that the Libra project made undisclosed payments to Karina within days of the scandal to influence the president. Karina Milei serves as Secretary General of the Presidency. If these allegations are correct, then there may be a case for the Public Prosecutor to pursue.

Judge Maria Romilda Servini has been investigating whether President Milei was involved in fraud, consorted with criminals, or breached his duties. The Public Prosecutor’s office has not released any findings yet, but more details could be released to determine this case. The Libra scandal tests the Argentine justice system because the courts investigate the President. According to reports, the Anti-Corruption Office is still investigating its case against Milei and Libra.

Milei managed to assist the Libra coin by promoting it on his X account. The Libra coin lost $4.4 billion of market cap within hours, partly due to developers withdrawing project funds. Head developer of Libra, Hayden Davis, withdrew $87 million from liquidity pools from the project. Other insiders withdrew $107 million, contributing to a pump-and-dump. The Libra scandal appears, on the face of it, to be a classic rug pull scam. However, investigations are still ongoing and will hopefully uncover more details about the scandal.