The Argentine court froze the assets of key figures related to LIBRA Meme coin and lifted the bank secrecy rights of President Milei and his sister.

According to a TechFlow report on May 17, as reported by Cryptoslate, a federal judge in Argentina ordered the freezing of the assets of key figures in the LIBRA meme coin project and lifted the bank secrecy rights of President Javier Milei and his sister to investigate alleged fraudulent activities.

Judge María Servini issued a ruling on May 14, investigating the “pump and dump” operations allegedly involved in the project. In February of this year, after Milei publicly supported the coin on social media, LIBRA’s market capitalization once exceeded $4.5 billion, but then the coin’s price plummeted by over 85%, and liquidity rapidly disappeared.

The court has implemented a 90-day asset freeze on Novelli and three other key figures, prohibiting them from transferring or selling their assets. Opposition lawmakers are currently calling for an independent investigation into the president’s level of involvement.