Federal Judge Orders Identification of Libra Wallet’s Owners

The Libra case, which investigates the launch and subsequent movement of the funds allocated through the controversial token sales, has reached new developments in Argentina.

According to a document reviewed by local media, Federal Judge Marcelo Martinez ordered the identification and freezing of a set of wallets linked to Libra after receiving a report from the Federal Police’s Cybercrime Technical Department that reconstructed the trail of these through several crypto networks starting in May.

The move scrutinized eight wallets labeled as “Libra team,” which had direct involvement in the token launch after Argentina’s President Javier Milei promoted it on social media. The report recorded the moves of these wallets, with four consolidating nearly $57 million into an address that was blocked and released by the United States District Court for the Southern District of New York, after it determined that the funds were no longer at risk of dissipation.

The referenced wallet allegedly mixed funds using several other wallets. On May 10, there was a massive fund movement that funneled nearly 500K through an interoperability protocol into a Tron address. This wallet also tried to obfuscate its transactions, but out of 17 movements executed, at least 10 passed through Binance. Similarly, eight wallets are linked to Bybit, two to OKX, and two to Bitfinex.

This would, in theory, help identify the users linked to these $8.2 million, as most centralized exchanges comply with know-your-customer (KYC) requirements. Nonetheless, others might not be identifiable, as some institutions don’t require customer identification for these operations.

The remaining funds are now managed by a so-called Libra Trust, which aims to distribute them to Argentine companies through grants before November, with 71 applications already pending approval to receive these benefits.