Around $99 million worth of cryptocurrency was withdrawn from the marketplace of a coin at the centre of a scandal in Argentina by eight digital wallets linked to the crypto token's creator, blockchain researchers said.

The controversy has turned what was once a promising regulatory path into political quicksand, leaving Argentina’s crypto landscape in turmoil. The promise of crypto regulation in Argentina, once fueled by the rise of pro-crypto president Javier Milei in late 2023,

A new report cites text messages that appear to show the crypto mogul bragging about exerting some sort of control over the Argentinian leader.