Argentine judge dismisses case against Milei over alleged crypto scam

A federal judge in Argentina has dismissed a criminal case against President Javier Milei and his sister, Karina Milei, who were accused of promoting a suspected cryptocurrency scam that resulted in at least US$100 million in losses for investors. Judge Marcelo Martinez de Giorgi ruled that the reported events do not constitute a criminal offence, stating that investor losses and the rise and fall in the currency's price were insufficient to establish fraud.

Milei had previously hailed the $LIBRA meme coin in a social media post, which he later deleted after the currency crashed. Industry experts called the operation a "rug pull," a scam where developers attract investors and then quickly cash out. Nine other individuals under investigation were also cleared.

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