How Argentina’s President Milei Helped Another Scam Token Before LIBRA

An Argentine congressional commission investigating the LIBRA scandal revealed that President Javier Milei was involved in a nearly identical cryptocurrency scheme two months prior, involving the KIP token launch in December 2024. The same promoters, Mauricio Novelli and Manuel Terrones Godoy, who were linked to LIBRA, spearheaded the KIP launch, founded by Julian Peh (whose real name is Peh Chnyi Haur, a Singaporean citizen using an alias). Evidence from exchanges like Gate.io shows a direct money trail between Novelli and Terrones Godoy related to the KIP operation, which followed the same pump-and-dump model as LIBRA. Milei's involvement included promoting KIP on social media after Peh presented at the Argentina Tech Forum, an event sponsored by the city government where Peh met Milei and his sister. Investigators view the KIP operation as a 'pilot-scale fraud' used to test how presidential endorsement could influence a meme coin's price before repeating the scheme with LIBRA in February. The commission is now seeking further evidence, including identifying owners of receiving accounts and reissuing summonses to Novelli's family members regarding safety deposit box activity.

(Source：BeInCrypto)