LIBRA Token Fallout: Argentine Lawyer Demands Extradition Of Project Creator From US

A renowned Argentine lawyer has officially called for the international arrest of the cryptocurrency entrepreneur allegedly involved in the LIBRA token scandal.

What Happened: Gregorio Dalbon, who previously represented former Argentine President Cristina Fernandez in a corruption case, filed a formal request for an Interpol Red Notice for Hayden Davis, CEO of Kelsier Ventures and advisor to President Javier Milei, who helped launch the scam-tainted token, according to Argentine media outlet Perfil.

Dalbon submitted the petition to lead prosecutor Eduardo Taiano and Judge María Servini on Tuesday, seeking an Interpol Red Notice to expedite Davis’s detention and extradition from the U.S.

Dalbon argued that Davis might impede the case’s progress by fleeing his home country, the U.S., or by remaining in hiding.

See Also: House Committee Favors Stablecoin Regulation To ‘Strengthen’ Dollar: Majority Whip Says CBDCs Against ‘American Values’

Why It Matters: This move marked a significant escalation in the legal proceedings surrounding a case that has embroiled Milei’s administration in controversy.

The president had publicly endorsed the LIBRA shortly before its dramatic collapse, triggering allegations of a rug pull—a scam where creators accumulate funds for a project, causing its value to soar only to disappear with the invested funds, leaving the project worthless.

The Solana (CRYPTO: SOL)-based coin ran up to over $170 million in market capitalization after launch but has since lost 92% of its value.

Davis had denied the allegations of a rug pull, saying, "It's just a plan gone miserably wrong with $100 million sitting in an account that I'm the custodian of.” He added that he never intended to personally profit from the funds.

Milei said that he never promoted the coin, and anyone who invested in the coin did so voluntarily. The president has faced calls for impeachment and criminal charges against him over the scandal.

Price Action: At the time of writing, LIBRA was exchanging hands at $0.06471, down 18.93% in the last 24 hours, according to CoinMarketCap.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

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