Interpol Red Notice Requested for LIBRA Co-Creator Hayden Davis in Argentina

An Argentine lawyer seeks an Interpol Red Notice for LIBRA’s co-creator Hayden Davis, citing his role in the token’s controversial launch and price collapse. The case underscores concerns about fraud in the cryptocurrency market, with significant losses reported by traders. Davis asserts his innocence and has retained legal counsel as investigations involve President Milei’s actions surrounding LIBRA.

An Argentine lawyer, Gregorio Dalbon, has requested an Interpol Red Notice for Hayden Davis, co-creator of LIBRA. The request was presented to prosecutor Eduardo Taiano and Judge María Servini, highlighting the significance of the case as it involves an individual linked to a controversial cryptocurrency. Dalbon, noted for his representation of former Argentine president Cristina Fernández de Kirchner, argues that Davis poses a procedural risk due to his financial resources.

An Interpol Red Notice serves as a global alert for law enforcement to locate and tentatively arrest an individual. Such notices have emerged in notable cases in the cryptocurrency sector, including that of Terraform Labs’ Do Kwon. Dalbon’s documents indicate that Davis was integral to the LIBRA token’s creation and promotion, asserting that his resources may facilitate an escape or concealment.

LIBRA became a topic of national debate after it was publicized by Argentine President Javier Milei shortly after its launch. This action was believed to have significantly contributed to the token’s rapid rise. However, the value of LIBRA plummeted soon thereafter, resulting in a loss of approximately $4.4 billion in market capitalization and leaving many investors at a loss.

Analysis by blockchain analytics firm Nansen revealed that 86% of LIBRA traders incurred losses amounting to a total of $251 million. Accusations have been leveled against Davis and other creators, suggesting the participation in a pump-and-dump scheme, as insiders allegedly controlled the majority of the token’s supply before liquidating their assets at the height of its value.

In response to the allegations, Davis has recently emerged from a period of silence, announcing that he has secured legal representation aimed at addressing the case comprehensively. His legal team is led by Brian Klein from Waymaker Law, an esteemed firm specializing in complex financial crime cases linked to the SEC and the U.S. Department of Justice.

Davis has proclaimed his innocence, stating that he intended only for LIBRA’s success and did not plan to defraud investors, according to the report from Página 12. Furthermore, President Milei has also rejected claims of wrongdoing, asserting that his involvement was limited to merely disseminating information regarding the token, rather than conducting official promotion.

The request for an Interpol Red Notice against Hayden Davis highlights the growing scrutiny surrounding cryptocurrency founders and their activities following significant market fluctuations. The unfolding LIBRA case embodies the complexities and potential legal repercussions associated with innovative financial products. As investigations continue, both Davis and President Milei maintain their innocence amid allegations of unethical conduct related to the token.

Original Source: crypto.news