Argentina's President Javier Milei ditches investigation into his own crypto scandal.

On Tuesday, Argentina's central government officially disbanded the investigative unit tasked with probing the Libra memecoin scandal — barely three months after it was formed.

Argentina’s President Javier Milei has pulled the plug on the investigation into his own crypto scandal.

On Tuesday, the central government officially disbanded the investigative unit tasked with probing the Libra memecoin scam — barely three months after it was formed.

The task force has “fulfilled its purpose,” according to a decree signed by Milei and Justice Minister Mariano Cúneo.

The unit, set up by Milei himself, was gathering information on the infamous token dubbed Libra, which Milei had promoted on social media on February 14.

After the president’s post on X, Libra surged to $4.5 billion in market value before crashing more than 97% just some hours later. It is now $14 million.

Insiders got away with more than $100 million in profit.

‘The mask has slipped’

Local lawmakers mocked both the task force and its dismantlement.

“The UTI was always a front,” opposition lawmaker Julia Strada said on X. “And they shut it down anyway.”

Strada’s view was echoed by Congressman from Santa Fe, Estebán Paulon.

“Surprised? Said no one ever. The mask has slipped. They are experts in impunity,” Paulon said on social media.

Unsealing bank records

But the scandal — which rocked Argentina’s booming crypto scene — is far from over.

Federal judge María Servini, who is overseeing the case, has ordered banks to allow access to accounts for key suspects, including President Milei and his sister, Karina.

Servini wants a full record of financial activity dating back to 2023. This would include banking data, securities holdings, and any suspicious asset growth.

In fact, Karina Milei has been accused of accepting bribes to arrange access to the president. Among those she allegedly granted access to her brother is Hayden Davis, the mastermind behind the Libra scandal.

The judge’s probe includes three figures who have been tied to the Libra project, Mauricio Novelli, Manuel Terrones Godoy, and government official, Sergio Morales.

“The government is doing everything it can to prevent the truth from coming out,” Maximiliano Ferraro, lawmaker from Buenos Aires, said on X.

Milei denies any wrongdoing.

Pedro Solimano is a markets correspondent based in Buenos Aires. Got a tip? Email him at psolimano@dlnews.com.