President Milei’s Phone To Be Searched Over the $LIBRA Scandal

An Argentine court will conduct a judicial analysis of the contents of Milei’s mobile devices to determine whether he exchanged messages with the promoters of the LIBRA meme coin around the time of its launch. 

The request also extends to key cabinet members and advisors close to the President. The analysis will also track the devices’ geolocation around the time of launch.

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Phone Analysis Targets Milei and Inner Circle

Federal prosecutor Eduardo Taiano has ordered a forensic analysis of President Milei’s phones to determine the extent of his involvement in the launch of the LIBRA meme coin.

The analysis aims to trace any messages, photos, and documents the President exchanged with the memecoin’s promoters, Hayden Mark Davis, Mauricio Novelli, and Manuel Terrones Godoy. It will cover the period before, during, and after the launch.

Taiano’s request also extends to the Secretary General of the Presidency, Karina Milei, and former National Securities Commission advisor Sergio Morales. 

The prosecution will also review any message exchanges Milei had with other people implicated in the Libra scandal. These include Ripio Co-founder Sebastián Serrano, Kip Protocol CEO Julian Peh, Cardano founder Charles Hoskinson, and Cube Exchange CEO Bartosz Lipinski.

The analysis will expand across messaging apps and social media platforms, including Telegram, WhatsApp, X, Instagram, Facebook, and LinkedIn.

The prosecutor also requested a search for calls and messages across the President’s multiple phone lines, noting that he currently owns thirteen numbers.

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Beyond people, the investigation also focuses on general themes and terminology. The analysis will trace contents that include keywords like “meme coin,” “token,” “$libra,” and “binance,” and references to financial malpractice such as “rug pull,” “pump and dump,” “insider,” and  “sniper.”

The prosecutor also ordered the geolocation of the devices of those investigated between July 12 and 19 of last year, and from February 13 to 16 of this year, among other dates.

The analysis aims to determine if the phones had virtual wallet or exchange apps like Phantom and Solflare downloaded. The prosecution also demands that deleted content be identified and recovered from every device.

The “Rug Pull” and Global Legal Repercussions

In February, Milei endorsed the LIBRA token in a tweet shortly after its launch. The post caused the meme coin to reach a market cap of over $4 billion. 

However, insiders suddenly cashed out over $100 million in profits, which saw the token drop in a straight line like a rug pull. The fallout caused Milei to delete his tweet. 

Shortly after the controversy, Milei denied promoting the meme coin, claiming he had only shared it. He later admitted in an interview that the fallout from the event was ultimately “a slap in the face.”

Since then, the scandal has prompted a series of legal actions by Argentine and US courts. 

In Argentina, the President faces both criminal and congressional investigations. In the US, Burwick Law filed a civil class action lawsuit against Milei over investor losses.