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Crypto worth $99 million withdrawn from Milei-backed Libra token, researchers say

Crypto worth $99 million withdrawn from Milei-backed Libra token, researchers say


Published on 2025-02-20 19:20:48 - Reuters
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  • Around $99 million worth of cryptocurrency was withdrawn from the marketplace of a coin at the centre of a scandal in Argentina by eight digital wallets linked to the crypto token's creator, blockchain researchers said.

The article from Reuters discusses a significant withdrawal of cryptocurrency from the Libra token, a project backed by Argentine presidential candidate Javier Milei. According to blockchain researchers, approximately $99 million worth of crypto was withdrawn from the token's smart contract. This event occurred amidst Milei's campaign for the presidency, where he has been vocal about his libertarian views and skepticism towards the current economic policies in Argentina. The withdrawal has raised concerns about the stability and future of the Libra token, especially given its association with Milei's political ambitions. The researchers noted that the funds were moved to various wallets, with some transactions linked to exchanges, suggesting possible selling or transfer of the assets. This situation underscores the volatile intersection of cryptocurrency, politics, and economic policy in Argentina.

Read the Full Reuters Article at:
[ https://www.reuters.com/world/americas/crypto-worth-99-million-withdrawn-milei-backed-libra-token-researchers-say-2025-02-20/ ]
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