Argentinian president Javier Milei promotes memecoin that then crashes 95% in apparent $100 million+ rug pull
February 14, 2025
https://www.web3isgoinggreat.com/?id=milei-memecoin-promotion
@web3isgreat Today the scam is getting full coverage on Argentine TV.
The prosecutor for the investigation has ben selected.
For now the narrative is "Milei is a victim", he will be giving an interview this night.
I just read about this in the US edition of the Guardian today: https://www.theguardian.com/world/2025/feb/17/argentinia-opposition-impeachment-milei-cryptocurrency-collapse
@molly0xfff will this be in the next Citation Needed?
@funcrunch @eibriel @web3isgreat it certainly will
@eibriel @web3isgreat supposed insider confessions covered by Coffeezilla, a YouTuber known for his exposés of crypto scams, that some of the insiders reached out to: https://www.youtube.com/watch?v=Ud6GuH7gSDw
(The bulk of the first of the pictures looks to be from there, possibly from the ending where one of the interviewees says "this is an unregulated casino".)
@web3isgreat Disappointing interview from Milei. No new information.
According to him there was no scam, people willingly gambled their money.
On top of that he says only a handful of highly specialized traders took part on that, "at most 5 argentine traders".
He says that the idea of his account being hacked was a scheme, but didn't explained to what end.
He says he didn't promote, nor publicized: "I gave diffusion to an interesting project".
He had some info about the project in advance. But is unclear in what detail.
According to him nobody asked to post the tweet, he saw that the project was out and published by his own initiative. Unclear how he was able to do that in just a couple minutes.
He says he didn't received money in exchange for the diffusion.
Dodged the question when asked if he spoke with LIBRA creator recently