An Argentine judge has ordered the freezing of dozens of cryptocurrency wallets linked to the LIBRA token scandal and demanded that major exchanges Binance, Bybit, and OKX provide Know Your Customer data on the wallet holders. The investigation marks a significant escalation in the LIBRA probe, which has been ongoing for months.
Federal Judge Marcelo Martinez de Giorgi issued the order as part of the investigation into the LIBRA memecoin, which has been at the center of controversy in Argentina since its launch. The token was promoted by high-profile figures and briefly reached a significant market capitalization before collapsing.
The 25 wallets targeted in the order span multiple blockchains, including Solana and TRON. Investigators have traced cross-chain transfers and identified connections between wallets that suggest coordinated activity among the token’s insiders.
The exchanges have been given a deadline to provide identification details for the wallet owners, including names, addresses, and transaction histories. The ruling represents one of the most aggressive legal actions taken against a memecoin project in Latin America.
The LIBRA case has drawn public attention to the risks of politically connected cryptocurrency projects. The token was launched with backing from individuals close to the Argentine government, and its subsequent collapse raised questions about investor protection and regulatory oversight in the country.
Argentina has been working to establish clearer rules for digital assets, though enforcement has been uneven. The LIBRA probe could accelerate regulatory development as authorities seek to prevent similar incidents.
This article was adapted from BeInCrypto. Read the original here.
