Dormant LIBRA Multisignature Wallet Suddenly Moves $9M Amid Court Scrutiny

A long-inactive multisignature wallet connected to the embattled LIBRA meme coin has unexpectedly transferred $9 million in crypto, raising fresh concerns among investigators and plaintiffs pursuing the case in the U.S. Southern District Court. The wallet, known as “Milei” on major blockchain trackers, moved 69,000 SOL through a maze of obscure addresses after remaining untouched since February 15—just one day after LIBRA’s chaotic launch and rapid collapse. Blockchain analyst Fernando Molina noted that the transaction pattern appeared designed to obscure the final destination of the funds.

The timing of the transfer is drawing intense scrutiny because it occurred while the U.S. justice system reviews an emergency request to freeze assets linked to LIBRA. Plaintiffs in a class-action lawsuit, represented by Burwick Law, warned the court that the individuals behind the project may be preparing to convert remaining holdings into privacy coins, which could effectively erase the transaction trail. Court filings emphasize that key evidence could be permanently lost if such a conversion takes place.

The concerns are supported by two earlier incidents documented in the legal complaint. On November 16, a wallet tied to the LIBRA team routed funds through the NEAR Intents protocol and into a shielded Zcash address, making the assets mathematically untraceable once inside Zcash’s privacy pool. Plaintiffs described the move as a deliberate test run to demonstrate how LIBRA-related proceeds could vanish.

By November 18, activity escalated when more than $60 million in USDC was swapped into roughly 456,000 SOL and consolidated into two new “positioning” wallets—an arrangement often used ahead of privacy-enhanced transfers or cross-chain laundering strategies. Investigators believe the pattern points to preparations for a full-scale obfuscation effort.

With a hearing scheduled for Tuesday at 4 p.m. EST, the court’s decision may determine whether the remaining LIBRA assets remain traceable—or disappear entirely.