Argentina is investigating its president on the MIM currency scandal

The President of Argentina, Javier Millie, faces intensive audit after supporting an unknown encrypted currency, the scale.

He briefly led his general support the value of the distinctive symbol before it declined, which led to accusations of misconduct and possible legal violations.

On February 14, President Miley promoted the Mim Mim Class on X, claiming that it might strengthen Argentina’s economy and benefit small companies.

His statement raised an increase in the price of the distinctive symbol, as the maximum market reached $ 4 billion in hours. This increase allowed those familiar with the exchange of more than $ 100 million of profits.

However, the assembly was short -term. Mimi’s coin had no symbol. The same site was created hours before the launch, and more than $ 87 million was spent in the first three hours.

The value of the distinctive symbol was destroyed shortly after, indicating a classic pump and discharge scheme.

“Within minutes of launch, many big bearers began to filter millions of dollars from the scale. This included +4 million dollars or more, as the scale rose to $ 4.6 billion from the maximum market. After the upper part was set at 5 o’clock: 40 pm East time, the currency fell in a literally straight line. ”

This has led to the escalation of criticism that led Miley to delete his position and try to retreat. The president stated that he did not completely understand the project.

He also explained later that, after knowing more, he chose to stop promoting it.

“I was not aware of the details of the project and after I became aware, I decided not to continue to give it the exposure (for this reason I deleted the tweet),” the president, ” I mentioned.

The Presidential Office of Argentina tried to contain the repercussions, which reduced the incident as a routine promotion of Blockchain’s funding.

However, officials acknowledged that Millie met with Heiden Mark Davis, a character associated with the KIP protocol, which is behind the infrastructure of the rituals.

Nevertheless, the government announced an investigation into whether any official, including the same person, had been incorrectly acted. The probe will also examine whether the KIP protocol, the entity -related entity, will participate in illegal activities.

In addition, the President ordered the formation of the UTI unit under the presidency. This unit, which is composed of financial laundering experts, encryption, and funding, will be studied, scale and participants’ launch.

“All the information collected during the investigation will be delivered to the courts to determine whether any of the companies or individuals associated with the KIP project has committed a crime,” the statement. ” Add.

Threats to political repercussions and accountability

The controversy has escalated beyond the encryption space, which sparked a political crisis. Critics argue that the reckless promotion of Miley for speculative origin led to financial losses for investors and the public.

The Argentine legislator, Gabriella Esteviz, was accused of engaging in a classic pump scheme. They described it as a severe financial fraud that manipulates market prices to achieve personal gains.

“What the president did is called POMP and DUMP, which is a dangerous financial fraud. Creators buy“ encryption ”large sums of it at his initial price. After that, they amplify their value artificially by attracting more people with lies about their capabilities. When the price rises, the creators sell The “encryption” of their property, causing the price to be disrupted and left other investors with losses, “Estevez Note.

The reverse reaction also led to accountability threats. A political faction started procedures, describing the unprecedented scandal in the history of Argentina.

“A bloc of national deputies has decided to move forward with the submission of the dismissal against the head of the nation,” Diputados Up books On x.

Buenos Aires Axel Kisselov’s governor chanted these concerns, describing the incident as widespread financial fraud. he to caution It was misleading that investors in Argentina and beyond have been misled, and the situation is compared to a typical coded currency pyramid scheme.

In general, this is a great reflection of how to support politics, because the TROMP launch made the Meme Coin market very weak. Previously, Vitalik Buterin, co -founder of Ethereum, warned that more political coins could harm the market progress.

Since the launch of Mimi’s coin from Trump, many fraudsters have launched and pumped fake symbols on the basis of other political leaders. The scale is just another example of the harsh harsh dangers of this space.