Breaking News: Argentine Engineer Accuses Libra Developer of Illicit Transfers
Published on February 14th, 2023 – 10:15 AM
Fernando Molina, an Argentine engineer specializing in cryptocurrencies, has accused Hayden Davis, the developer of the cryptocurrency $Libra, of transferring over $500,000 to an unknown account shortly after a meeting with President Javier Milei. Molina’s allegations have triggered a wave of investigation into the legitimate origins of Davis’ activities.
Meeting with President Milei
Davis met with President Javier Milei at the Casa Rosada on January 30th, accompanied by Manuel Terrones Godoy and Mauricio Novelli from the Tech Forum Argentina. Four hours later, Davis posted about their meeting on his social media, highlighting discussions on the impact of blockchain technology in Argentina. Molina brought to light that Davis made a transfer of $507,400 to Bitget exchange shortly after this meeting.
Preceding Transfer
Molina also revealed that Davis transferred over $1 million a day before the fraud was publicly disclosed. The programmer quoted Maximiliano Firtman’s Twitter post which warned of the validity of scammers and their implications. Firtman’s comment drew attention to Davis’ transfer activities, suspecting potential misconduct.
Further Insights into transfers
Molina’s concerns grew as his analysis indicated the transfers were destined for third parties and not Davis’ personal wallets. He pointed out the suspicious pattern of test transfers, like the one made shortly before a significant payment. This led Molina to infer that Davis could be engaged in a broader scheme involving various individuals.
The $Libra Development
The accusations against Davis follicular days following reports of an investigation into the $Libra cryptocurrency’s legitimacy by Argentine authorities. Prosecutor Eduardo Taiano requested information from the Singaporean embassy regarding Julian Peh, CEO of Kip Protocol, the company behind $Libra. The investigation aims to uncover the dealings and financial details of Davis and Peh.
Importance of Blockchain Technology
Blockchain technology, despite its potential benefits such as transparency and security, also poses risks of misuse. The case of $Libra demonstrates how this technology can be manipulated for deceptive practices. For businesses and investors, understanding these risks and the need for due diligence is crucial.
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