The Libra token, promoted by Javier Milei in early 2025, saw a rapid rise followed by a dramatic crash, losing over 96% of its value. Investors are estimated to have lost at least $251 million as the token’s price collapsed shortly after gaining attention.

Milei later deleted his promotional post and stated he was unaware of the project’s details, describing it as a private initiative. However, the scale of investor losses and the speed of the collapse have led to accusations of a potential rug pull, intensifying public backlash and legal scrutiny.