Argentina’s President Javier Milei finds himself at the center of a crypto scandal involving the controversial Libra Coin project. Promoted heavily on social media as a government-endorsed initiative, Libra lured in unsuspecting investors with promises of high returns and official backing—claims which were quickly denied by Milei’s administration.

Key Insights:

• Fake Endorsement Claims: Libra Coin’s promoters circulated videos and ads falsely linking Milei to the project. The government has since clarified that no official crypto project exists under Milei’s name.
• Investor Fallout: Early adopters now face losses as the project is accused of being a pump-and-dump scam, with tokens rapidly losing value after the hype faded.
• Damage Control: Authorities are investigating the project’s origins and warning citizens to exercise caution with unverified crypto schemes.

The scandal is a stark reminder that in the crypto world, celebrity or political associations don’t equal legitimacy. Investors should always verify sources and conduct thorough due diligence before engaging.

Read more: https://freecoins24.io/milei-libra-crypto-scandal/

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