An Argentine lawyer has requested an Interpol Red Notice for Hayden Davis, co-creator of LIBRA, asserting he poses a flight risk. The LIBRA token faced controversy after its rapid rise and subsequent collapse, purportedly leading to significant investor losses. Davis has since announced legal representation and maintained his innocence, as investigations continue.
An Argentine lawyer has initiated a request for an Interpol Red Notice against Hayden Davis, co-creator of LIBRA. According to a report from Página 12 on March 12, attorney Gregorio Dalbon submitted this request to prosecutor Eduardo Taiano and Judge María Servini, highlighting the need for international cooperation in tracking down Davis.
An Interpol Red Notice serves as a global alert to law enforcement agencies, urging them to locate and provisionally arrest an individual. Such notices have previously been issued in prominent cryptocurrency cases, including against Do Kwon of Terraform Labs. Dalbon’s court documents assert that Davis played a “central role” in LIBRA’s development, presenting a “procedural risk” due to his substantial financial means that could facilitate his escape.
LIBRA generated significant national attention following its endorsement by Argentine President Javier Milei on social media just minutes after its launch, leading to speculation regarding the impact of his approval on its initial surge. The value of the token plummeted shortly thereafter, resulting in a loss of $4.4 billion in market capitalization and significant financial harm to investors.
According to blockchain analytics company Nansen, 86% of LIBRA traders experienced losses, amounting to a total of $251 million. Critics allege that Davis and other insiders executed a pump-and-dump scheme, asserting that the creators retained most of the token supply and liquidated their assets at its peak valuation.
Recently, Davis re-emerged following weeks of silence, announcing that he has secured legal counsel and intends to address the ongoing situation. His legal representation includes Brian Klein from Waymaker Law, a firm recognized for its expertise in complex financial crime litigation involving the SEC and the U.S. Justice Department. In a statement reported by Página 12, Davis professed his innocence, asserting that he “only wanted and sought the success” of LIBRA and denying any intentions of defrauding investors.
President Milei has also refuted allegations of wrongdoing, clarifying that his role was limited to simply “spreading the word” about LIBRA without endorsing it formally. Furthermore, Taiano disclosed plans to freeze approximately $110 million in assets as part of an ongoing investigation into Milei’s involvement in the LIBRA affair, according to previous reports from crypto.news.
The request for an Interpol Red Notice against Hayden Davis highlights the legal and ethical challenges surrounding the LIBRA token. As investigations unfold, both Davis and President Milei deny any wrongdoing amid claims of a pump-and-dump scheme. Legal proceedings may have significant implications for those involved and the cryptocurrency market in Argentina.
Original Source: crypto.news
