Libra and Melania: Explosive Findings Point to ‘Pump and Dump’ Scheme
Libra and Melania– Bubblemaps analysts have revealed new evidence suggesting that the Libra (LIBRA) memecoin was launched by the same team responsible for the controversial Melania (MELANIA) token. Their findings point to a connection between the two token launches, which were both met with severe financial crashes shortly after they went live.
According to Bubblemaps, fresh on-chain evidence has surfaced showing that the team behind the launch of LIBRA, or someone close to them, was likely also involved in the creation of the Melania token. The evidence links the two projects through a Solana wallet address, “0xcEA,” which played a significant role in the controversial launches. Bubblemaps analysts claim that the same wallet sniped the launch of the Melania token on January 19, earning $2.4 million in profits. Shortly after, the entire sum was transferred to another wallet on Avalanche.
Bubblemaps further explains that the same wallet address had funded the wallet responsible for creating the Libra token. Following the Libra launch on February 15, the same wallet sniped the token, clearing $6 million in profit. Both sniping activities were carried out using multiple side addresses funded through cross-chain transfer protocols from Arbitrum and Avalanche wallets, making it difficult to trace the full transaction history.
Controversial Launches Result in Financial Catastrophe
Both the Libra and Melania tokens have experienced catastrophic crashes, with insiders reportedly pocketing millions of dollars and draining liquidity from the tokens. The launch of LIBRA was endorsed by Argentina’s President Javier Milei but quickly turned into a financial disaster. Within hours of launch, the value of LIBRA dropped nearly 94%, following a $107 million cash-out by insiders. Lookonchain data reveals that at least eight wallets linked to the Libra team siphoned off a total of $57.6 million in USD Coin and 249,671 Solana, which was worth $49.7 million at the time.
Similarly, the Melania token experienced a similar fate. After its launch on January 19, the token briefly reached a peak market capitalization of over $13 billion, only to plummet by 99%, dropping to $189 million at the time of publication. This rapid devaluation has raised questions about the motives behind both token launches and the role of market manipulation.
A Pattern of Pump and Dump Schemes?
Bubblemaps analysts concluded that the LIBRA and MELANIA tokens were likely launched by the same team based on their findings. The analysts pointed to the sniping activities and funding patterns, which resemble a typical “pump and dump” scheme—a practice where the price of a token is artificially inflated, only for insiders to cash out at the peak before the value crashes. Bubblemaps also reported that the 0xcEA wallet has been linked to several other high-profile “pump and dump” token launches, including the fake Robinhood (HOOD) token, which briefly peaked at $120 million before its value fell to just $12.5 million.
These findings raise serious concerns about the integrity of the teams behind these token launches, with many questioning whether they are part of a larger scheme to manipulate the market for personal gain.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
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