The cryptocurrency world is no stranger to drama and controversy, and the recent launch of the memecoin LIBRA is a testament to that. Created by the same team behind US First Lady Melania Trump’s MELANIA asset, LIBRA made waves in the market before crashing spectacularly.
Argentinian President Javier Milei initially supported the launch of LIBRA, touting it as a token that would boost the Argentine economy. However, the coin’s market cap quickly soared to $4 billion within hours before plummeting, prompting Milei to retract his endorsement.
Blockchain analytics platform Bubblemaps partnered with crypto journalist and YouTuber Coffeezilla to investigate cross-chain transfers and timing patterns related to LIBRA and MELANIA. What they uncovered was a web of suspicious activity involving the creators of both tokens.
Their analysis revealed that the creator of MELANIA or someone closely associated with them engaged in sniper activity during the token’s launch, making significant profits in the process. Further digging uncovered a connection between the wallet address associated with MELANIA’s creator and the wallet funding the creator of LIBRA.
To add fuel to the fire, it was discovered that the same wallet address that profited from sniping MELANIA also profited from sniping LIBRA, raking in millions of dollars through cleverly orchestrated cross-chain transfers.
Bubblemaps also identified several other token launches linked to the wallet address in question, labeling them as “clear pump and dumps.” Coffeezilla’s interview with Hayden Davis, one of the creators of LIBRA, confirmed his involvement in both the MELANIA and LIBRA launches, shedding light on the intricate web of deception surrounding these tokens.
As the cryptocurrency community grapples with the fallout from these revelations, it serves as a stark reminder of the risks and pitfalls inherent in the volatile world of digital assets. Stay informed and vigilant to avoid falling victim to similar schemes in the future.
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