Argentina: cryptocurrencies, crazy returns and a dubious project… “anti-banking” candidate in trouble

Javier Mileione of the three most popular candidates for presidential in Argentina He finds himself in trouble because of his participation in a dubious project about crypto investment funds. the the anti-bank candidate it is found like this sued get encouraged his audience – and thus the Argentine people – to entrust their funds to a the investment platform is now closed.

Ponzi or not to Ponzi?

The facts go back to December 18, 2021 Javier Milei, liberal economist and deputy publishes a post that a few months later puts him in an embarrassing situation to say the least.

“They are revolutionizing the way they invest to help Argentines avoid inflation. Now you can simulate your investment in pesos, dollars or cryptocurrencies and make a profit. Write to CoinX on my behalf so they can advise you best. »

That’s how Javier was almost followed on his Instagram account1.3 million people at the time of the facts, suggested to his followers, but also to the Argentine people in general that fight against inflation by investing in CoinX. CoinX now closedwas a platform that offered a performance on automated stores to its customers through a artificial intelligence, bots and trading experts.

Thanks to their “technology” CoinX claims to be able to offer up to 8% per month return to gullible investors. Before this strange association, the MP had become a popular reference in explaining the problem national economy as pointed out by the Argentinian newspaper Clarin.

Actually, Miley brought his support as well as his image to the platform. Moreover, he clearly encouraged his audience to contact CoinX on his behalf.

The platform is as predictable as the sun in summer in March it stopped paying its depositors it is 3 months after posting on Instagram. So these are close 20 people filing a complaint today against the deputy. They hold him jointly and severally liable for their losses ranging from $1,000 to $10,000.

At the same time, Argentina’s financial police issued a warning regarding CoinX on August 6 with a ban on suspending all services in Argentine territory.

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Blame Javier Milei or the Argentine peso?

If criticism of Argentina’s economy is easy, it is mainly because valuer their national currencies rightly blames Javier Milei. Currently, the The Argentine peso rate mimics the rate of our most beautiful Shitcoins. And without the hope of a possible pump.

Weakening of the value of the Argentine peso thus explaining the interest of Argentines in alternatives and therefore inevitably in cryptocurrencies. However, this sector is not easily understood or accessible. Bad plans of all kinds flourish and capture capital steals the image of an anti-inflation drug.

For its part, Argentinian MP proclaims his innocence in possible fraud which CoinX was able to achieve. In the interview given Argentinian media LN+explains that during a visit to the CoinX premises, he could clearly see customers’ money obligations whose yields were supplemented BTC mining farms. Company for its part, it refutes any ponzi operation even though she had to stop investments. Miley denies that it advertised CoinX for any purpose other than to serve the public.

Commendable as the fight against inflationthe choice of her allies to face it is the most important. Let us remind you that until the court decision, the innocence of the presidential candidate should be assumed. However, we will have the opportunity to raise a questioning eyebrow before the one who is damaged his credibility as an economist and politician due to his partnership with a dubious platform. Especially in front of promises 8% monthly return. Clearly untenable promises, even in the wonderful world of cryptocurrencies.

Avoid offers that are too good to be true like the plague and get in the habit of being healthy with the doubt. On the other hand, learn to reasonably trust reputable and recognized players in the ecosystem. The FTX platform undoubtedly falls into the latter category. Come and buy your first bitcoins and other cryptocurrencies. Register on FTX. You will benefit from a lifetime discount on your transaction fees (commercial link).