[REVISION HISTORY]

$LIBRA cryptocurrency fraud legal proceedings

Updated 2 times since CLSTR started tracking revisions of this situation.

What changed

2026-09-04 18:44 UTC → 2026-09-05 02:56 UTC · added ~~removed~~

Legal proceedings continue in the Argentine Federal Chamber regarding the $LIBRA cryptocurrency case. The dispute centers on whether five investors, including Martín Romeo, can regain their status as plaintiffs after a court decision previously questioned their standing to intervene. Romeo, represented by attorney Nicolás Oszust, has filed a memorial requesting the revocation of the ruling. He argues that the collapse of $LIBRA was not caused by natural market volatility or inherent risks, but was instead a “monumental scam.” The complainant alleges a deliberate scheme to attract funds following a tweet by President Javier Milei on February 14, 2025, claiming the maneuver resulted in $286 million in damages across approximately 84,000 victims. In opposition, organizer Mauricio Novelli is requesting the court to uphold the exclusion of the investors. The defense contends that the participants voluntarily assumed market risks and that the case is an attempt to reclassify speculative losses as criminal fraud. Furthermore, the defense asserts that President Milei bears no criminal responsibility for his social media activity regarding the asset. In a recent development, the Federal Chamber of Appeals in Buenos Aires upheld the decision to remove the investors from their role as complainants. Judges Mariano Llorens and Pablo Bertuzzi confirmed a previous ruling by federal judge Marcelo Martínez de Giorgi, stating that the investors failed to prove a fraudulent scheme. The court characterized the transactions as occurring within a “highly volatile business” where buyers voluntarily assumed significant risk. ~~Legal representatives for the investors have criticized the ruling, arguing that the exclusion may hinder~~ While the criminal investigation ~~and questioning~~ into the ~~speed of~~ token's launch and collapse remains open, the decision ~~following changes~~ weakens the legal standing of those seeking to drive the ~~court's composition.~~ prosecution.

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