Argentine lawyers have filed charges against the president of Argentina, Javier Milei, in criminal court, accusing him of promoting a cryptocurrency that experienced a brief rise followed by a sharp drop over the weekend.
Project Liberty's Solana-based token, known as Libra (LIBRA), saw its market capitalization soar to $4.56 billion on Feb. 14 after Milei mentioned the token on X.
However, after he removed the post, the token's value plummeted more than 94%, leading to accusations of a pump-and-dump scheme.
According to a Feb. 17 Associated Press report, attorneys Marcos Zelaya and Jonatan Baldiviezo, engineer Maria Eva Koutsovitis and economist Claudio Lozano have filed a criminal complaint alleging that Milei was complicit in fraud by promoting Libra.
In addition, Baldiviezo accused Milei of violating Argentina's Public Ethics Law, which requires public officials to disclose their assets and possible conflicts of interest.