The measure, ordered by Federal Judge Marcelo Martinez, seeks to ascertain the identities of the owners of 25 wallets that moved the funds left after the launch of Libra, and the freezing of the funds in these wallets. At least 10 transactions passed through centralized exchanges, such as Binance, that exert KYC controls.
Key Takeaways
Judge Martinez froze Libra wallets after police traced the funds, exposing the networks used to hide them.Wallets moved millions through crypto exchanges, allowing authorities to use KYC rules to identify users.A Libra Trust now manages the remaining funds, planning to distribute them as grants to local companies.The referenced wallet allegedly mixed funds using several other wallets. On May 10, there was a massive fund movement that funneled nearly 500K through an interoperability protocol into a Tron address. This wallet also tried to obfuscate its transactions, but out of 17 movements executed, at least 10 passed through Binance. Similarly, eight wallets are linked to Bybit, two to OKX, and two to Bitfinex.
The remaining funds are now managed by a so-called Libra Trust, which aims to distribute them to Argentine companies through grants before November, with 71 applications already pending approval to receive these benefits.
