TLDR
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Argentine court freezes 25 wallets tied to the expanding $LIBRA probe.
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Authorities seek KYC records from exchanges linked to $LIBRA transfers.
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Police traced $LIBRA funds across Tron and several crypto platforms.
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Binance, Bybit, OKX, and Bitfinex wallets appear in the investigation.
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Argentine probe expands after tracing millions linked to the $LIBRA case.
An Argentine federal court has ordered the identification of holders behind 25 cryptocurrency wallets linked to the $LIBRA investigation. Authorities also directed exchanges to provide user records and froze assets connected to the targeted wallets. The Argentine probe has expanded after investigators traced millions of dollars across several blockchain networks.
Argentine court expands wallet identification and asset freeze
Federal Judge Marcelo Martínez de Giorgi issued the latest order after reviewing a cybercrime report prepared by the Argentine Federal Police. The report reconstructed cryptocurrency movements connected to the $LIBRA project from May onward. Investigators mapped transactions across multiple blockchain networks to identify people behind the transfers.
The order requires exchanges to provide customer identities, KYC records, IP addresses, transaction histories, and related account information. Authorities also requested any additional records that could identify individuals connected to the observed transactions. The Argentine investigation now focuses on evidence collected from centralized cryptocurrency platforms.
The court identified 25 wallets believed to have handled funds retained by the creators after the failed February 2025 launch. Furthermore, the judge ordered the freezing of assets connected to those wallets during the investigation. However, authorities have not confirmed whether the targeted wallets still contain the traced funds.
Argentine investigators trace crypto movements across exchanges
The police report reconstructed activity involving eight wallets identified as the Libra Team. Investigators linked those wallets to the token’s creation and the movement of funds following its market collapse. The report showed that four wallets transferred assets into a single wallet identified as 61yk.
Authorities found that wallet 61yk remained frozen for almost six months under an order from the U.S. District Court. The restriction related to a separate legal case involving token creator Hayden Davis. After the freeze ended, investigators tracked new transfers from the wallet through several blockchain networks.
The report stated that funds moved using a digital smurfing method that divided larger balances into smaller transactions.Investigators followed a transfer of 498,539 USDT through a cross-chain protocol to the Tron network. The receiving wallet later split the amount into 17 separate transactions across multiple destinations.
Argentine investigation adds background to the $LIBRA case
Investigators traced at least ten transactions through Binance during the latest review of blockchain activity. Additionally, they connected eight wallets to Bybit, two to OKX and two to Bitfinex. Because centralized exchanges usually require identity verification, the Argentine court expects those records to support the investigation.
Crypto analyst Fernando Molina previously tracked the movement of funds connected to the project. His analysis estimated that about $8.2 million remained inactive before becoming active again in May. Consequently, those wallets now form part of the expanding Argentine judicial investigation.
The $LIBRA token gained attention after Argentine President Javier Milei promoted the project on social media before its sharp collapse. Authorities have continued examining financial movements linked to the token since that event. Meanwhile, separate reports indicate that remaining funds are managed through a trust created by Hayden Davis to support grant proposals for Argentine companies as part of a planned project revival.
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