A high-profile criminal probe targeting Argentine President Javier Milei and his sister, Karina Milei, over their alleged ties to a controversial cryptocurrency collapse has been formally terminated, per official court filings. Federal judge Marcelo Martinez de Giorgi issued the dismissal order following a formal request from federal prosecutors to drop all charges linked to the $Libra crypto scandal that roiled local markets in February 2025.
The controversy erupted after Milei published a post on X (formerly Twitter) endorsing the newly launched $Libra token, claiming the asset would channel funding to underresourced small businesses and early-stage startups across Argentina. Moments after the president shared a direct purchase link for the cryptocurrency, its market value surged dramatically, drawing thousands of retail investors. However, Milei deleted the post within hours, triggering a catastrophic price crash that left the vast majority of token holders facing crippling financial losses. The rapid, unannounced collapse prompted widespread public accusations of a “rug pull” — a common crypto scam where project operators lure investors before abandoning the asset and siphoning off raised funds — while opposition legislators in Argentina’s Congress immediately drafted formal impeachment proceedings against Milei.
From the earliest stages of the investigation, Milei repeatedly rejected all fraud allegations, emphasizing he had acted entirely in good faith throughout the incident. In multiple local media appearances, including an interview with major outlet Todo Noticias, the president clarified, “I didn’t promote it, I merely shared it,” adding that he had deleted the post as soon as he uncovered undisclosed operational details of the $Libra project that led him to distance himself from the asset. He further noted that all investors had participated voluntarily with full awareness of the inherent risks of unregulated digital assets. The presidential administration also previously confirmed that the national Anti-Corruption Office would conduct a separate administrative review to assess whether any improper official conduct had occurred, and stressed that neither Milei nor his inner circle had any involvement in developing or launching the $Libra token.
In his formal ruling dismissing the entire case, Judge Martinez de Giorgi stated that the sequence of events described in the original fraud complaint did not meet the statutory definition of a criminal offense under Argentine law, and that no admissible evidence had been presented to prove the existence of criminally relevant deception targeting investors. As of press time, President Milei has not issued a public statement responding to the news that all criminal charges against him and his sister have been dropped.