$LIBRA crypto victims on the verge of being left out of the case

The Argentine judiciary's investigation into the $LIBRA crypto scandal, involving President Javier Milei and his associates, has been ongoing since early 2025. The focus has been on identifying the affected parties and determining if criminal acts were committed. Initially, many investors filed legal complaints, requesting to be included in a class action as they felt defrauded.

However, a recent ruling might leave these investors out of the case. A judge decided to exclude five men - Juan Patricio Marchetto, Alan Vega, Matías Alejandro Paris, Braian Emanuel Quintero, and Martín Romeo - from the proceedings. They were removed as plaintiffs because the cryptocurrency was deemed a "memecoin," implying inherent risk in investing.

This means the affected investors will no longer have access to the case file or the chance to request new evidence. They appealed the decision, with the Federal Appeals Chamber set to rule on the matter, potentially by next week. The outcome could significantly impact the investigation's progress. If the appeals are denied, the only avenue to move forward would be prosecutor Eduardo Taiano, who has faced criticism for not advancing the case.

The $LIBRA token was created on February 14, 2025, by Milei, who promoted it on X, claiming it would help small businesses. The token surged initially but collapsed hours later in a "rug pull," losing nearly all its value. The investigation targets Milei, his sister and presidential secretary Karina, and three others - Sergio Morales, Mauricio Novelli, and Manuel Terrones Godoy.

The latter two were present at a meeting with Hayden Davis, a U.S. businessman involved in $LIBRA, in 2024. Milei has not been charged with any crime but is being investigated. The judge's ruling was based on the argument that the evidence did not show the investors were "particularly harmed," and $LIBRA's volatile nature made it a risky investment.