Argentine Judge Closes Crypto Fraud Case Against President Milei and His Sister

A criminal investigation into Argentine President Javier Milei and his sister Karina Milei over a cryptocurrency scandal has been dropped, according to court records.

Federal judge Marcelo Martinez de Giorgi dismissed the case after prosecutors asked for it to be closed. In his ruling, the judge said "the reported events do not fall under a legal category" and concluded that no "criminally relevant deception" had been proven.

The case centered on $Libra, a newly launched cryptocoin that collapsed shortly after the president mentioned it in a social media post in February 2025. Milei had written on X, formerly Twitter, that the coin would help fund small businesses and start-ups. He also shared a link to buy it, and the price then climbed sharply.

Within a few hours, however, Milei deleted the post and the coin's value plunged. Most of those who had invested lost the bulk of their money.

The episode prompted opposition members of Congress to plan impeachment proceedings. Some online critics accused the president of a "rug pull," a scheme in which promoters draw in buyers for a cryptocurrency and then halt trading and keep the money raised from sales.

Milei has consistently rejected the accusations. In an interview with Todo Noticias, he said: "I didn't promote it, I merely shared it." He has said he acted "in good faith" while the coin was rising in value.

He defended deleting the post by saying he did not know "the details of the project and after learning about it, I decided not to continue promoting it." In a television interview, he also argued that people who put money into $Libra had done so "voluntarily" and understood the risks.

The presidential office has said Milei had no involvement in the development of $Libra. It also announced at the time that the Anti-Corruption Office would examine whether the president had acted improperly.

Milei had not responded to news of the dismissal at the time of the original report.