A class action lawsuit is underway against those responsible for the cryptocurrency $Libra, following its collapse of 2200% in just four hours, leaving thousands of investors affected globally. Blockchain specialist Martín Romeo, part of the lawsuit in the Criptogate $LIBRA case, has highlighted that the legal action aims to clarify the crimes committed along the value chain and to take civil actions to help investors recover their funds.
Romeo pointed out that President Javier Milei, although he did not create the cryptocurrency, played a crucial role in publicly supporting it, which was fundamental to its transaction volume. The investigation focuses on determining the responsibilities of each link in the issuance of the $LIBRA token and a civil lawsuit for 9 million dollars is currently being prepared on behalf of 120 affected individuals from various parts of the world.
The impact of the $Libra collapse has been significant in the cryptocurrency market, causing a widespread drop of between 15% and 35%, which has undermined investor confidence. This case, according to Romeo, has led many people to question the integrity of the entire cryptocurrency ecosystem. Despite this, it has been emphasized that blockchain technology has positive applications and that the intention of the complaint is to set a judicial precedent to prevent future scams.
Regarding judicial investigations, in Argentina, the case is under the supervision of Judge María Servini and prosecutor Eduardo Taiano, who are directing legal actions against various individuals involved in the alleged fraud. On the other hand, the U.S. Securities and Exchange Commission (SEC) has independently initiated an investigation to determine possible responsibilities.
The focus of the lawsuit falls on various crimes ranging from fraud and financial deception to influence peddling, attributed to key players in the project. Romeo has reported that liquidity funds worth 110 million dollars were withdrawn, along with another 100 million obtained through insider information, leaving thousands of investors in a detrimental situation.
In summary, the legal action against those responsible for $Libra seeks not only to clarify what happened in this specific case but also to establish a precedent that promotes transparency and the protection of investors in the cryptocurrency ecosystem.
