Argentina’s LIBRA Crypto Probe Intensifies as Funds Move and Final Report Nears Release

Argentina’s high-stakes LIBRA investigation has reached a critical moment, raising urgent questions about political responsibility, judicial oversight, and the fate of millions in crypto tied to one of the country’s most controversial cases. As Congress prepares to publish the long-awaited final report, the timing of major wallet movements and fresh prosecutorial actions is fueling speculation across both political and crypto circles.

Maxi Ferraro, President of the LIBRA Investigative Commission, confirmed that the report reflects months of testimony, technical analysis, and collaboration with judicial authorities. Ferraro noted that new evidence—including information shared during a recent meeting with Prosecutor Carlos Taiano—could be linked to indirect payments to public officials connected to alleged crypto hubs. He stressed that the Commission operated strictly within its oversight mandate, focused on identifying political actions or omissions that may have enabled the LIBRA scandal’s expansion.

Just as the report was being finalized, blockchain analysts detected unexpected activity tied to two dormant wallets labeled “Milei CATA” and “Libra: Team Wallet 1.” After nine months of inactivity, both wallets liquidated their USDC holdings—more than $58 million—and converted them to SOL before transferring the funds to another known address. According to analyst Fernando Molina, the timing suggests an effort to move assets beyond the reach of freezing orders, as SOL cannot be frozen in the same way USDC can. U.S. authorities had previously frozen and later released the funds after determining there was no ongoing risk, while Argentine prosecutors have pushed for renewed freezing measures since April.

Ferraro emphasized that political oversight is essential to protecting state integrity, positioning the Commission’s final report as a turning point for Argentina’s crypto governance. The findings are expected to influence judicial actions, political consequences, and future scrutiny of LIBRA-linked wallets whose latest transfers may be the last transparent movements available to investigators.

With prosecutors examining potential illicit payments and on-chain researchers warning that key funds may now be out of reach, the release of the final report marks a pivotal shift in Argentina’s ongoing crypto crackdown.