Argentine judge freezes 25 crypto accounts in LIBRA investigation

An Argentine federal judge is making significant progress in the investigation into the LIBRA token. Judge Marcelo Martínez de Giorgi has frozen 25 crypto accounts linked to the case and is forcing several major exchanges to hand over client data. The case centres on the promotion of the LIBRA token by President Javier Milei on X in February 2025.

Six exchanges ordered to identify account holders

Judge Martínez de Giorgi has set his sights on six major crypto platforms: Binance, Bybit, OKX, CoinEx, FixedFloat and Bitfinex. All of these parties must provide KYC documents for their clients, along with IP logs, linked bank accounts and full transaction histories. According to Infobae, this is a far-reaching order that leaves the platforms little room to refuse.

The measure follows a detailed report from the cybercrime unit of the Argentine federal police. That unit is reconstructing the flow of funds from the so-called “Team Libra Wallets” across multiple blockchains and centralised exchanges. In doing so, investigators have uncovered structures deliberately set up to hinder tracking, an approach typical of money laundering practices.

President Milei at the centre of the LIBRA scandal

The origins of this case lie in a tweet by Argentine President Javier Milei. In February 2025, he promoted the LIBRA token on his personal X account, after which the price rose rapidly and then crashed just as quickly. Many investors lost their money, and questions soon arose about possible market manipulation and the role of insiders.

The freezing order for the 25 accounts is a direct response to the findings in the police report. Researchers state that funds have been moved in multiple steps across different networks, indicating a deliberate attempt to conceal the origin of the money. Regulatory pressure on the parties involved has therefore increased significantly, and it remains to be seen how the exchanges in question will respond to the judge’s order.