Trader Quits Crypto After Losing $10,000 in LIBRA

One year after Argentine President Javier Milei backed Libra, a meme coin that proved to be a rug pull, Alfonso Gamboa Silvestre, a 25-year-old from Chile, says he lost $10,000 and has left the crypto industry for good. Gamboa Silvestre says he first saw a message on Telegram and checked Milei’s verified post on X before buying the token.

He invested $5,000 in two purchases and watched the price tumble during a Valentine’s Day dinner, later locking himself in the restaurant bathroom as losses mounted. “I thought the token was going to go down, and then it was going to go back up to infinity,” he said, but the recovery never came.

Legal action has followed. Gamboa Silvestre is one of 212 investors seeking reparation in Argentina, while data from Ripio show 1,329 citizens lost money. The impact stretched internationally, and a separate class action in the United States is moving forward against Hayden Davis, the American investor accused of leading the project.

Argentina

libra, meme coin, rug pull, javier milei, alfonso gamboa, hayden davis, argentina, telegram, ripio, class action