Judge dismisses fraud case against Milei and sister over crashed coin

The criminal probe into President Javier Milei and his sister Karina Milei has ended without a trial.

Federal judge Marcelo Martinez de Giorgi dismissed the case following a request from prosecutors. In his written decision, the judge stated that the events did not fit a specific legal category. He further concluded that no criminally relevant deception was proven in the matter.

The investigation focused on $Libra, a cryptocurrency that lost most of its value shortly after its launch. In February 2025, Milei posted on X, formerly Twitter, that the coin would support small businesses and start-ups. He included a link for purchasing the asset. The price rose sharply immediately after the post went live.

Milei deleted the social media message within hours. The coin’s price fell rapidly following the removal. Investors who bought after the initial surge lost the majority of their capital. Opposition members of Congress planned impeachment proceedings in response to the crash. Online critics labeled the event a rug pull, a term for when promoters stop trading a coin after raising funds.

Milei has denied these accusations in multiple interviews. Speaking to Todo Noticias, he clarified his role with the phrase, “I didn’t promote it, I merely shared it.” He claimed to have acted in good faith while the asset was gaining value. He explained that he removed the post because he lacked detailed knowledge of the project and chose to stop sharing it after learning more.

In a television appearance, the president argued that investors participated voluntarily and understood the risks involved. The presidential office stated that Milei had no part in developing the cryptocurrency. It also noted that the Anti-Corruption Office reviewed the situation to determine if the president acted improperly. Milei had not provided a public response to the dismissal at the time of reporting.