Argentina Presidential Candidate Sued for Promoting Crypto Ponzi Scheme

Argentina Presidential Candidate Sued for Promoting Crypto Ponzi Scheme

The eccentric presidential candidate of Argentina, Javier Milei is being sued for allegedly selling a crypto ponzi scheme. 

The self-proclaimed Bitcoin fanatic promoted crypto funding platform CoinX final 12 months by importing an Instagram publish to his 1.3 million followers.

The platform promised big returns to its customers and claimed to make use of AI, bots, and skilled merchants to automate trades for traders. 

In December of 2021, Milei even visited CoinX’s Buenos Aires places of work and mentioned, “They are revolutionizing the way to invest to help Argentinians with inflation. You can now simulate your investment in pesos, dollars or cryptocurrencies and earn a profit.”

However, the platform closed in June after the regulatory National Securities Commission (CNV) acknowledged that the platform had no authorized proper to function within the nation and ordered it to cease operations.

However, in line with Argentine each day newspaper Clarín, followers of Milei at the moment are in search of damages as they didn’t obtain any big returns.

A criticism has been filed by lawyer Juan Pablo Chiesa. Investors have misplaced between 30 million to 40 million pesos (practically $300,000). 

Milei defended himself by distancing himself from the platform, and saying that he didn’t trick anybody—and wasn’t paid to advertise CoinX.

Compiled by Coinbold

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