Argentine authorities have escalated their pursuit of Hayden Davis, the controversial co-creator of the collapsed $LIBRA cryptocurrency token, by formally requesting Interpol to issue a Red Notice for his immediate capture and extradition. The petition, filed by prominent Argentine lawyer Gregorio Dalbon, comes in the wake of a financial catastrophe that saw the token’s market capitalization evaporate from a peak of over $4 billion, leaving investors with losses estimated to exceed $100 million.
Davis, who operates through his company Kelsier Ventures, allegedly profited substantially from what prosecutors characterize as a sophisticated pump-and-dump scheme. Financial records indicate that Davis and his associates extracted approximately $107 million before the token’s value plummeted, triggering widespread accusations of fraud and market manipulation. The magnitude of these transactions has raised concerns that Davis possesses sufficient resources to evade traditional justice mechanisms, necessitating international intervention.
Prosecutors allege Davis engineered a calculated exit strategy, absconding with millions while investors watched their holdings vanish overnight.
The scandal has created political shockwaves in Argentina, with multiple fraud charges being filed against President Javier Milei, who allegedly participated in promoting the token. Prosecutors are scrutinizing connections between Milei’s administration and the $LIBRA project, including allegations that the president’s sister, Karina Milei, received compensation for endorsing the cryptocurrency. Davis has publicly denied sending payments to Milei’s sister despite allegations of financial influence.
Interpol’s Red Notice system, which functions as a request to law enforcement agencies worldwide to locate and provisionally arrest a person, represents a significant escalation in the pursuit of Davis. Compliance with Red Notices remains discretionary for member countries, contingent upon national legal frameworks and extradition treaties with Argentina.
In public appearances, Davis has characterized $LIBRA’s collapse as a business failure rather than deliberate malfeasance, while President Milei maintains he merely shared information without explicitly promoting the token. Despite the mounting legal pressure, Davis has assembled a new legal team to prepare his defense and has expressed intentions to appear in court.
Meanwhile, the financial fallout continues to reverberate through Argentina’s investment community, with numerous civil lawsuits supplementing criminal investigations.
International coordination will prove vital in determining whether Davis faces legal consequences, as cryptocurrency-related fraud often transcends jurisdictional boundaries, creating complex challenges for traditional prosecution methods.
