- Argentina ordered the freeze of 25 crypto accounts tied to the LIBRA token investigation.
- Six global exchanges must provide KYC, IP logs, banking details, and transaction records.
- Investigators traced funds across blockchains using OSINT and blockchain forensic analysis.
An Argentine federal court has ordered the freezing of 25 crypto accounts in the ongoing LIBRA token investigation. It also directed six global exchanges to provide extensive customer information, including Know Your Customer (KYC) records, IP logs, linked bank accounts, and complete transaction histories.
The ruling was issued by Federal Judge Marcelo Martínez de Giorgi at the request of prosecutor Eduardo Taiano. It is one of Argentina’s most aggressive judicial actions against crypto financial crimes. While the order has been issued, enforcement is still pending.
Six Exchanges Ordered to Identify Wallet Owners
The court order targets accounts hosted on Binance, Bybit, OKX, CoinEx, FixedFloat, and Bitfinex. Specifically, the freeze applies to 10 Binance addresses, eight on Bybit, two each on OKX, CoinEx, and Bitfinex, and one on FixedFloat.
The exchanges must provide complete customer files, including account opening documentation, KYC records, internal platform communications, IP connection logs, linked bank account information, platform interactions, and full transaction histories for the specified wallets.
The requests will be executed through the Cybercrime Technical Department of the Argentine Federal Police (PFA).
Judge Martínez de Giorgi said the precautionary measures were necessary because of the absence of a dedicated regulatory authority overseeing cryptocurrencies and to prevent “irreparable harm.”
The ruling also aims to preserve assets that could represent proceeds of crime while preventing additional transfers before the investigation concludes.
Investigators Trace Fund Flows From Team LIBRA Wallets
The prosecution relied on a forensic report from the PFA’s Cybercrime Technical Department, which reconstructed the movement of funds using backward blockchain tracing and open-source intelligence (OSINT).
According to investigators, assets originated from wallets identified as “Team Libra Wallets,” which transferred millions of LIBRA tokens into the Meteora Libra liquidity protocol shortly after the token’s launch in February 2025. The funds were later consolidated into intermediary wallets before eventually moving across blockchain networks.
The report alleges that on May 10, 2026, approximately 498,539 USDT was bridged from Solana to Tron within 16 seconds using an interoperability protocol rather than a centralized exchange.
Investigators further claim the funds were later distributed through a “digital smurfing” strategy. This splits assets into numerous smaller transactions across multiple wallets to make blockchain tracing more difficult.
Investigation Stems From LIBRA Token Promotion
Notably, the case originated after Argentine President Javier Milei promoted the LIBRA token on X on February 14, 2025. The token surged from around $0.01 to nearly $5 before collapsing following heavy selling allegedly linked to insiders.
Authorities estimate that more than 40,000 investors suffered losses totaling roughly $100 million. The investigation has also examined the alleged roles of KIP Network, Kelsier Ventures, American entrepreneur Hayden Davis, and Argentine figures Mauricio Novelli and Manuel Terrones Godoy in connection with the token’s launch.
Potential Turning Point for Crypto Enforcement
Compelling exchanges to disclose KYC documentation, IP addresses, banking details, and transaction histories indicate a more comprehensive investigative strategy to link blockchain activity to real-world identities.
While similar requests have been made in other jurisdictions, Argentina’s sweeping demand across multiple international exchanges in a politically high-profile crypto case may encourage prosecutors elsewhere to pursue comparable cross-border cooperation in future fraud investigations.
Related: Argentina Sends Online Gambling and Crypto Payment Bill to Congress
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
