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Original article: Caso $LIBRA: informe técnico deja sin piso a Milei y contradice su versión de que lo copió de Internet

The technical report from the General Cybercrime Directorate of the Argentine Federal Police has effectively dismantled and weakened the argument presented by Javier Milei  in the $LIBRA case. He claimed that the message shared on his X account on February 14, 2025, promoting the cryptocurrency as a private project aimed at stimulating economic growth, was something he had copied from the internet.

Hours later, Milei retracted the post, stating that he had no connection to the project and preferred to stop promoting it after gaining more information.

In the meantime, however, demand for the cryptocurrency surged, with its price skyrocketing from 0.3 cents to $5.54, and it generated millions in transactions before crashing. Over 100,000 crypto buyers claimed they were part of a massive scam, losing staggering amounts exceeding $286 million due to the promotion from the so-called “libertarian”.

According to Página/12, the analysis by the Federal Police revealed that a single digital wallet belonging to Kelsier Ventures, headed by Hayden Davis, was responsible for creating the token through a blockchain mining process. This asset was not listed on any centralized exchange, meaning the only access was through the project’s information or from the original creators’ address. The website “Vivalalibertadproyect,” referenced in the presidential post, only incorporated the contract after Milei’s publication at 7:01 PM on Valentine’s Day. In other words, the Argentine president was not a casual observer who merely replicated information found online, but rather a key figure in its launch.

The report, signed by Sub-Inspector María de los Ángeles Crespo and dated May 21, details that the token’s liquidity was concentrated in a single actor—the creators, a typical pattern seen in scams known as “pump and dump.” While most investors lost everything—around $280 million, according to blockchain analysis firm Arkham—a select few wallets with insider information reaped multimillion-dollar profits.

Hayden Davis himself admitted in an interview that he held $100 million of ‘the Argentines’ and confirmed that during the launch, he was in a room “with people representing the President”, who, he said, “was on the phone”, as reported by Página/12.

$LIBRA “Was Created to Defraud”

The hypothesis that Milei acted as part of the promotional team is strengthened by the forensic analysis of the mobile phone of trader Mauricio Novelli, who served as a link between the president and Davis. The analysis of messages and calls reveals communication minutes before, during, and after the tweet, involving the President, his sister Karina Milei, advisor Santiago Caputo, and former chief of advisors Demian Reidel. Even more revealing: among the contract drafts found on Novelli’s phone was a clause stipulating a payment of $1.5 million solely for a tweet by Milei, as part of a total agreement worth $5 million.

Lawyer Martín Romeo stated that the PFA report “undermines” the official version and positions the President as a necessary participant in the scam.

“Milei could have never known about the existence of $LIBRA if he was not involved beforehand with the creator team,” he declared to the quoted media.

His colleague Nicolás Oszut was more blunt and suggested that the cryptocurrency “was created to defraud, as it lacks other usual security elements to prevent fraud.”

He also pointed out that the result of the police report “clearly shows Milei as a participant in the business and therefore in the scam.”

As the judiciary moves to de-anonymize the involved wallets, the president continues to evade questions about how he met Davis, why he promoted a fraudulent project, and where the funds ended up. However, the excuse of “I copied it from the Internet” now has no technical basis.

La entrada Technical Report Undermines Milei’s Claims in $LIBRA Controversy, Revealing Deeper Connections se publicó primero en El Ciudadano.