A lawyer in Argentina has initiated a significant legal maneuver by requesting an international arrest order for Hayden Davis, the founder of the controversial memecoin LIBRA, as reported by the Buenos Aires newspaper Pagina 12 on Thursday.
Attorney Gregorio Dalbon raised concerns about the procedural risks associated with U.S. citizen Davis remaining at large. Dalbon highlighted the potential for Davis to leverage his financial resources to evade authorities and stay hidden indefinitely. In light of these risks, he formally requested that “the international arrest of Davis be ordered and that an Interpol red notice be issued in order to locate and arrest him, with a view to his extradition,” during a presentation to Argentine courts.
The LIBRA memecoin recently surged to an impressive market capitalization of $4.4 billion, as indicated by various financial reports. However, this rise was short-lived, with the memecoin plummeting more than 95% last month. Its promotional backing by Argentine President Javier Milei—which featured in a now-deleted tweet—has turned out to be a point of contention.
In a subsequent statement, President Milei backtracked on his endorsement of LIBRA, asserting that he had been uninformed about the project’s intricate details. Once he became aware of them, he opted not to continue publicizing the coin.
The drastic decline of LIBRA has reportedly inflicted substantial financial damage, with estimates suggesting that investors have lost approximately $251 million, as analyzed in research conducted by Nansen.
