President of Argentina, Javier Milei, rugpulled a coin

[Xylber]

The official X.com account of Javier Milei, president of Argentina published this tweet on 14th February:

//////
1st TWEET:

Source: DELETED

Translation:

   Liberal Argentina grows!

    This private project will be dedicated to encourage the growth of the Argentinean economy, funding small Argentinean companies and ventures.

    The world wants to invest in Argentina.

//////



Comments divided between people FOMOing and people asking if it was real or if the account was hacked. 70% of the total coin was owned by 2 addresses.
5 hours later, after the coin was rugpulled, the president wrote another tweet:


//////
2nd TWEET:

Source: https://x.com/JMilei/status/1890606683291779195


Translation:

A few hours ago I posted a tweet, as I have done countless times before, in support of a supposedly private venture with which I obviously have no connection whatsoever.

I wasn't aware of the details of the project and after I had read up on it, I decided not to continue disseminating it (that's why I have deleted the tweet).

To the filthy rats of the political caste who want to take advantage of this situation to do harm, I would like to say that every day confirms how low the politicians are, and increases our conviction to kick them out.

VLLC!

//////



Even when the president said that he "wasn't aware of the details of the project", people in the comments pointed out that the website promoted by the president in his first tweet (vivalalibertadproject.com) was powered by a company called "KIP Network Inc".



"KIP Network Inc" was a company taking photos with the president some months ago:


Source: https://x.com/KIPprotocol/status/1849767686554910985

In that photo there is another known crypto influencer, Kmanus88, who rugpulled other projects in the latinamerican crypto community.




Sources (in spanish):
https://decrypt.co/es/306145/javier-milei-realmente-lanzo-una-criptomoneda-en-argentina-su-memecoin-libra-se-desploma-un-87-en-horas
https://www.infobae.com/politica/2025/02/15/el-presidente-milei-promociono-una-criptomoneda-y-luego-admitio-que-no-estaba-interiorizado-del-proyecto/

[Hispo]

This is the sort of thing which one should never expect a president to partake in, in my opinion. Why would he share a post about a project he does not know anything about to begin with?
This is the kind of thing that makes people from around the world to believe most latinamerican governments are not serious administrations are corruption is blatant, holding people down, bot allowing them to success our of their own merits.
If his account was not hacked and he posted this willingly, then there must be some accountability and seek where the money is.
The people of argentina has already suffered enough economically just for them to also start to get rug pulled by people who are supposed to be protecting them.

[DeathAngel]

He’s apparently denying that it has anything to do with him but I suppose that’s what a rug pulling scammer would say. I don’t know what to believe but there are so many shit coins flooding the crypto market now that it’s hard to tell which coins are genuine investment opportunities with utility & which coins are scams. It’s a jungle out there, stay vigilant. 

[KingsDen]

I don't know what to believe here. This is because it is very difficult to believe that a president will sell out his people for the sake of some group of people and money. Who knows if the president was purely involved in this or his media aid was contacted for this purpose. Who knows if he was manipulated, if not, what kind of money would a president need to jeopardize his reputation?

[tvbcof]

Lol.  As the old proverb goes, 'with Jews, you lose.'  At least Argentinians have not been Ukrainerized as under Zelinsky.  Yet.

[Xylber]

Sadly, the majority of info is in spanish.

Coin in OKEX (for informative purposes, don't buy it as it is confirmed it is a scam):
https://www.okx.com/web3/detail/501/Bo9jh3wsmcC2AjakLWzNmKJ3SgtZmXEcSaW7L2FAvUsU

ThreadGuy lost 250,000USD:
https://www.youtube.com/watch?v=6iAmuNR8fTc

Some other videos in english:
https://www.youtube.com/watch?v=W6X4_3ndR10
https://www.youtube.com/shorts/PKWp1anN0Bo

[Dunamisx]

This shows clearly his account was not hacked, secondly he made the first mistake of accepting about an offer he is not sure of everything in details, anyone of us can also be in the same condition, the more we have to equip ourselves, get the required information and have the right source, never post on anything we don't know about, not even when we are in a position that attract on public interest like this, I hope some have been taught a lesson already.

[FinneysTrueVision]

This excuse that he didn’t know what he was promoting is pretty lame. You don’t just get tricked into shilling an obvious scam. We have seen this playing dumb act with other rug pulls like the Hawk Tuah scam to try and evade responsibility. The truth is that he was aware of what he was doing and to claim otherwise is very dishonest.

[Dimitarus]

Will there be an impeachment?

[Jaguarf]

1Ad7tJepFCGmyv1FaEk2XpS4o8Y3XELZxd

[MisssPirssss]

1Ad7tJepFCGmyv1FaEk2XpS4o8Y3XELZxd

Why is that? Superfluous

[montaga]

It is the same over and over, no matter crypto or not.
https://x.com/Truthtellerftm/status/1890859077401473481

[Odusko]

This shows clearly his account was not hacked, secondly he made the first mistake of accepting about an offer he is not sure of everything in details, anyone of us can also be in the same condition, the more we have to equip ourselves, get the required information and have the right source, never post on anything we don't know about, not even when we are in a position that attract on public interest like this, I hope some have been taught a lesson already.

Most of the time, these politicians know well what they are doing and at that we shouldn't try to make it sound as if they were not aware or not in control of their social media handles, this is very important because like Donald Trump did his coin and followed by his wife, this makes the whole thing clear that it now a normal agenda for politicians to try to use their political office to perpetrate scams in form of cryptocurrency projects.

[Reynaldo]

The whole situation just reinforces why actual DeFi protocols with proper smart contracts and decentralized governance are crucial. No single person whether they're a president, CEO, or influencer should have that kind of pull

[Hispo]

The whole situation just reinforces why actual DeFi protocols with proper smart contracts and decentralized governance are crucial. No single person whether they're a president, CEO, or influencer should have that kind of pull

People did not even take the time to research about the concentration of tokens within the market before jumping in and buying what it appears to be an obvious scam. Before buying anything, one needs to do a minimum of research and see how many whales there are and whether there is a chance a single entity to pull all liquidity of the project.
I am myself pretty fond of protocols which deal with actual decentralization and their system of governance is through the holding of tokens, like those issued by Uniswap and Sushi swap, but I must admit I am still worried about the fact there are thousands of hackers out there trying to breach the pools of those decentralized exchanges non-stop, in order to steal all liquidity , in a similar manner to what happened to Pickle finance... (a defunct Defi protocol).  The weak point of Defi are poorly developed smart contracts and since those contracts are written by people, there is always a chance for mistakes which can easily cost millions of dollars to investors and liquidity providers.

[Reynaldo]

The intersection of politics and crypto has hit a new low. The fact that Milei went from gifting Elon a chainsaw ("motosierra") as a symbol of cutting government spending to essentially endorsing what turned out to be a rug pull is beyond concerning. This isn't just another crypto scam it's a sitting president either knowingly participating in or being grossly negligent about a financial scheme targeting his own citizens.
Looking at the timeline:
Posts supportive tweet about "Liberal Argentina" project Project rugs with 70% concentration in just 2 wallets, Deletes tweet and claims ignorance Meanwhile, there's documented connection to KIP Network Inc.

The excuse of "not being aware of the details" doesn't hold water when you're the PRESIDENT OF A COUNTRY. The same person who's been meeting with Trump and getting international attention can't just casually promote financial products without due diligence. That's not how leadership works.
Some users here are being too generous with the "maybe he didn't know" angle. When you discover photos of project leaders taking pictures with you months ago, the "I wasn't aware" defense crumbles pretty fast.

[Hydrach]

A man walks free, they lied more about him

[alani123]

It's fucking crazy how a president can do something like this. But then again it's obvious since Trump got away with it multiple times, Milei was gonna try it too. Even the Central African Republic did so. And it's crazy that more people put money every time.


Of course it's just going to be a cash grab. It was a cash grab every time since altcoins became a thing. The people never learn sometime. Until a person in every family has ended up scammed by a shitcoin they're probably going to continue like this. It got so easy even presidents are doing it..

[Lazymen]

They have a funny president, always on the positive side.

[Apocollapse]

If you didn't post this, I will never know if Javier Milei rugpulled a coin.

If Javier Milei talk in English, I guess it will went viral.

Right now the token price is worth $0.12, Javier Milei already make a lot from this coin. https://coinmarketcap.com/currencies/libra-viva-la-libertad-project/

I just don't understand with the public, is Official Trump and Official Melania aren't enough to be a lesson?