$LIBRA Token Scandal Expands as Milei Probed

Key Takeaways:

Judicial documents from a forensic examination of lobbyist Mauricio Novelli’s phone contain allegations of a draft payment plan that would have directed $5 million to Argentine President Javier Milei in connection with his promotion of the $LIBRA token.

The documents, reported by Argentine media outlet El Destape, detail a plan reportedly dated February 11, 2025, three days before Milei’s promotional social media post. The payment structure included $1.5 million upfront in tokens or cash, an additional $1.5 million for Milei publicly announcing Hayden Davis as an advisor, and $2 million contingent upon Milei and his sister Karina signing a blockchain and artificial intelligence consulting contract.

Prosecutors from the technical investigation department are examining these materials, which emerged in March 2026 reporting. The draft plan names Mauricio Novelli as the lobbyist whose phone was examined, Hayden Davis as the promoter, and Karina Milei in connection with the consulting contract referenced in the payment structure.

Milei has denied any wrongdoing, characterizing his social media posts about the token as personal investments.

The $LIBRA token experienced rapid appreciation following Milei’s February 14, 2025 endorsement, during which he shared the token’s contract address with his social media audience. The subsequent price collapse, characterized by analysts as a “rug pull,” resulted in losses estimated between $80 million and $100 million across approximately 114,000 investor wallets.

Iñaki Apezteguia, described as a crypto expert, characterized the scheme as “a profitable venture for very few” with approximately $100 million remaining unaccounted for. Forensic analysis of digital communications has identified direct messages between Milei and Novelli timed to coincide with the token launch.

The scale of investor losses prompted over 100 criminal complaints to be filed in connection with the incident.

Argentine congressional panels have accused Milei of leveraging his presidential position to facilitate the token scheme. Legislative investigators cited 16 meetings between Milei or his representatives and token promoters including Novelli, Davis, and Manuel Terrones Godoy. Importantly, these congressional proceedings have not referenced the specific $5 million payment allegation contained in the draft documents.

U.S. class actions have been filed in connection with the incident, and congressional reports have drawn connections to prior token endorsements such as KIP Protocol. The investigation continues under prosecutors including Eduardo Taiano, who are examining related secret advisory drafts.

February 14, 2025: Milei promotes $LIBRA token on social media

The President shared the token’s contract address with his social media following, triggering rapid price appreciation followed by collapse.

February 11, 2025: Draft payment plan dated three days before Milei’s tweet

Judicial documents show a draft payment plan outlining the $5 million structure, predating the public endorsement by three days.

Mauricio Novelli: Lobbyist whose phone was examined

Novelli served as a lobbyist connected to the token promotion. His phone underwent forensic examination by prosecutors, yielding the documents containing the draft payment plan.

Hayden Davis: Promoter named in payment plan

Davis is identified in the draft payment plan as the individual whom Milei would announce as an advisor in exchange for payment.

Karina Milei: President’s sister mentioned in consulting contract plan

The President’s sister appears in the draft documents in connection with a proposed blockchain and artificial intelligence consulting contract referenced in the payment structure.

Coinlineup Editorial Team

This article was prepared and reviewed by the Coinlineup editorial team using public market data, blockchain sources, and industry reports to ensure transparent coverage of cryptocurrency markets.

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