Key Points
- On-chain notes previously revealed that LIBRA was created by the same team behind MELANIA and other short-lived coins.
- The LIBRA memecoin chaos triggered a huge scandal around Argentina’s President, Javier Milei.
On-chain data had revealed that the LIBRA memecoin which turned out to be a huge rug pull that wiped over $4.4 billion off the memecoin market was created by the same team behind MELANIA memecoin and other short-lived coins.
LIBRA was launched last week, seeing initial support from Argentina’s President, Javier Milei, and MELANIA was launched in January, just after US President Donald Trump revealed the TRUMP memecoin launch.
LIBRA, Created by the Same Team Behind MELANIA
Bobblemaps revealed an interesting thread featuring new on-chain evidence, citing data from Coffeezilla.
Earlier today, Bubblemaps addressed speculation that LIBRA was created by the same people who were behind the launch of MELANIA memecoin back in January.
They analyzed cross-chain transfers and timing patterns to prove their statement.
Bubblemaps investigated sniper activity on MELANIA, saying that one address “P5tb4” stood out, making over $2.4 million. The address sent all profits to 0xcEA, a wallet linked to the MELANIA creator. This transfer used USDC Cross-Chain Transfer Protocol (CCTP).
The team also highlighted that there are multiple ways to connect 0xcEA with MELANIA creator via funding transactions and cross-chain transfers and these connections are reportedly not coincidental.
In other words, this means that the MELANIA creator or someone close to their team sniped their own launch.
Bubblemaps kept a close eye on the on-chain moves and discovered that 0xcEA funded DEfcuK – the creator of LIBRA. Also, the same wallet sniped LIBRA and made $6 million in profit, suing multiple side addresses funded via CCTP. This was reportedly similar to the MELANIA case.
A Pattern of Greed – Pumps and Dumps
On-chain data detected many token launches linked to 0xcEA, most of which were pumps and dumps. These included TRUST, KACY, VIBES, and HOOD.
Bubblemaps called these moves a “pattern of greed”, as the creator of MELANIA and LIBRA not only launched these tokens to extract value but used insider knowledge to snipe them.
Meanwhile, it was reported that Kelsier Ventures CEO Hayden Davis was behind the LIBRA memecoin launch.
Argentina’s President, Javier Milei, was placed at the center of the LIBRA memecoin disaster by the mainstream media, after initially showing support for the project. Meanwhile, the Argentinian Presidential office issued an official statement about the LIBRA chaos, vowing to investigate the issue.
