Key Takeaways
- Eduardo Taiano’s probe into $4.78M of Libra token flows stalled as UFECI lacks proper software.
- The Libra stall impacts market trust as deputies press Eduardo Casal for a budget assignment to resume the probe.
- Hayden Davis’s Libra Trust will next issue corporate grants to Argentine firms before November.
Probe On Libra Token Stalls On Lack Of Resources
The ongoing investigation into Libra, the token promoted by Argentina’s president, Javier Milei, has stalled, as the Public Prosecution claims to lack the resources to complete a technical analysis of the wallets involved in its launch.
According to local reports, Eduardo Taiano, the public prosecutor handling the case, sent a request to the Specialized Cybercrime Prosecutor’s Office (UFECI) to deepen a probe into the movements of the wallets made by relevant wallets between February 3 and February 13, which, in total, reach over $4.78 million.
In April, UFECI responded to Taiano’s request, stating that it was unable to fulfill it due to a lack of required software. The office, tasked with investigating the technological platforms used to commit crimes and preparing the technical reports necessary to conduct investigations, stressed that it lacked the required software licenses to fulfill this request and that it would do so when possible.
UFECI had completed similar requests because it was using a limited-time demo version of such software, but that had already expired.
A group of deputies sent a letter to Eduardo Casal, Argentina’s Attorney General, requesting swift assignment of the funds needed to continue the investigation.
Maximiliano Ferraro, President of the former Libra Congressional Commission, alerted that it was “unacceptable for the judicial investigation into the Libra case to be stalled because specialized units lack the necessary resources or technological tools to trace the flow of funds and analyze the virtual wallets involved,” highlighting that it was of special relevance due to the possible presidential involvement in these events.
“The lack of means cannot become an excuse to paralyze a cause or an obstacle to knowing the truth and denying justice,” Ferraro concluded.
The Libra Trust, funded by Kelsier Ventures CEO Hayden Davis using Libra’s sale proceeds, will allegedly deliver grants to Argentine companies before November.