Argentine lawyer Gregorio Dalbon has officially petitioned for an Interpol Red Notice to arrest Hayden Davis, co-creator of the LIBRA token, following allegations of a pump-and-dump scheme that caused substantial investor losses.

According to reports from local media outlets Página 12, on March 11, Dalbon submitted the request to prosecutor Eduardo Taiano and Judge María Servini, who are investigating President Javier Milei's involvement in the memecoin.

In his filing, Dalbon expressed concerns that Davis's significant financial resources could enable him to flee or go into hiding, thereby evading justice. He emphasized that Davis's central role in creating and promoting the LIBRA cryptocurrency, coupled with the international scope of the case, heightens the risk of him attempting to avoid legal proceedings.

The LIBRA token garnered attention when President Milei shared it across his social media platforms shortly after its creation on February 14, propelling its market value to over $4 billion. However, the token's creators, who held the majority of the supply, allegedly sold their holdings rapidly, leading to a sharp price decline. This sequence of events has led many to label the token's trajectory as a pump-and-dump scheme.

Subsequently, various legal actions have been initiated against President Milei in Argentine courts for his role in promoting the token. Additionally, complaints have been filed with local authorities and the U.S. Justice Department, accusing the president of financial misconduct.

President Milei has refuted claims of actively promoting the LIBRA token, asserting that he merely disseminated information about it. In a detailed interview following LIBRA's collapse with YouTuber Stephen Findeisen, known as "Coffeezilla," Davis defended the token as a failed venture rather than a fraudulent scheme.

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Davis and his firm, Kelsier Ventures, reportedly profited approximately $100 million from the LIBRA token launch. Davis has claimed that he did not own the tokens personally and denied selling them. Controversy intensified when reports surfaced of Davis allegedly boasting about compensating President Milei's sister, Karina Milei, to facilitate the president's promotion of the memecoin on social media. Davis has denied these allegations, stating he has no record of such communications and refuting claims of payments to the Milei family.

The request for an Interpol Red Notice signifies a critical escalation in the legal proceedings surrounding the LIBRA token scandal. If granted, it would facilitate international efforts to locate and provisionally arrest Davis, pending extradition procedures to Argentina.

As the investigation unfolds, the implications of the LIBRA token controversy continue to reverberate, highlighting the complexities and potential pitfalls within the rapidly evolving cryptocurrency landscape.