TLDR
- Argentina ordered 25 LIBRA-linked crypto wallets frozen.
- Six exchanges were asked to identify account holders.
- Binance, Bybit, OKX and Bitfinex were named in the order.
- LIBRA losses are estimated at more than $250 million.
- Analyst Fernando Molina said no funds were frozen yet.
Federal Judge Marcelo Martínez de Giorgi ordered the identification and freezing of 25 crypto wallets linked to the LIBRA memecoin investigation. The order names wallets connected to major exchanges, including Binance, Bybit, OKX, and Bitfinex.
The measure is part of a wider investigation into the collapse of LIBRA, a token promoted by Argentine President Javier Milei before its sharp decline. Investigators estimate losses from the token’s collapse at more than $250 million.
The LIBRA token launched on February 14, 2025, and drew rapid market attention after Milei publicly promoted it. The price rose quickly before collapsing, leaving many investors with steep losses.
The case has drawn attention because of its political links and the scale of the alleged fraud. Investigators are examining how funds moved from wallets tied to the project and whether insiders withdrew liquidity.
Exchanges Asked to Identify Holders
The court order directs six exchanges to identify the people behind the 25 flagged accounts. Authorities are also seeking transaction histories that may help trace where the funds moved after the token collapsed.
Analyst Fernando Molina said “no actual funds have been frozen” from the listed wallets so far. That suggests the order may help investigators collect information, even if the assets have already moved elsewhere.
The wallets were reportedly involved in transfers of digital dollars. Investigators believe those movements may help explain how money linked to LIBRA was shifted or hidden after the collapse.
The case names several figures connected to the project, including lobbyist Mauricio Novelli and U.S. businessman Hayden Davis of Kelsier Ventures. Previous asset freezes had already targeted some individuals linked to the investigation.
Investor Claims and Asset Tracking Continue
Five investor plaintiffs were removed from the proceedings on July 6 after a defense request. Opposition lawmakers warned that the move could weaken accountability in one of Argentina’s most watched crypto cases.
Investigators are using blockchain records, exchange data, and wallet activity to map the flow of funds. Crypto transactions can move quickly across platforms, making exchange cooperation important for any recovery effort.
The case also tests how global trading platforms respond to court orders from national authorities. Binance, Bybit, OKX, and Bitfinex are among the platforms named in the order.
The LIBRA investigation remains active as authorities seek account identities, transaction records, and possible asset recovery paths. The court’s latest order gives investigators another tool to follow the money trail.
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