By Nermeen Nabil Khear 
Trading LIBRA provided no safe pathway to financial benefits. Blockchain research firm Nansen published a study showing that 86% of LIBRA token sellers suffered losses, with each trader losing more than $1,000.
Let’s look into LIBRA and understand how these traders incurred such losses.
The $251 Million Blow
According to onchain data, over 13,000 investors lost a combined total of $251 million in what appears to be a massive pump-and-dump scheme. Out of 15,430 wallets that sold their LIBRA tokens for either a profit or a loss of more than $1,000, an overwhelming 86% took a loss. Among the 2,101 wallets that earned money, the combined profits reached approximately $180 million.
JUST IN: 86% OF INVESTORS LOSE $251M IN $LIBRA WHILE INSIDERS POCKET $180M
SOURCE: @Cointelegraph pic.twitter.com/y7rdfdNUfp
— Mario Nawfal’s Roundtable (@RoundtableSpace) February 19, 2025
Nansen delivers one simple assessment: “Insiders cashed in their profits, but retail traders faced large losses while major stakeholders disengaged.” The winning pockets took millions from LIBRA, but most individuals suffered significant financial losses.
Breaking Down the Losses
The statistics display that:
TRENCHES: OVER 74K TRADERS LOST $286M+ ON $LIBRA (ONLY REALIZED PNL).
•87 TRADERS LOST OVER $250K
•52 TRADERS LOST OVER $500K
•25 TRADERS LOST OVER $1 MILLIONSource: @wassielawyer pic.twitter.com/dGZPPIUpZ4
— Mario Nawfal’s Roundtable (@RoundtableSpace) February 17, 2025
Fifteen of the worst-affected addresses shared a total loss of $33.7 million. The wallet maintains 57% of its original bitcoins despite the crash, attempting to gain from a rebound.
The Biggest Loser: Dave Portnoy
Among the hardest-hit traders was Barstool Sports founder Dave Portnoy. He suffered the largest single realized loss of $6.3 million. He was reportedly an insider in the project but later returned 6 million LIBRA tokens that he had received for promoting the coin.
24 traders lose $1M+ on $LIBRA! 61 traders lose $500K+ based on transaction history.
The biggest loser realized $5.17M loss! He spent $5.6M to buy 2.1M token in total, and ended up sold these token for $430K!
More on
https://t.co/2Jkc0aK7J4 https://t.co/CwFwhyq5Ov pic.twitter.com/2tx4se0G5o
— lmk.fun
(Prev. Scopescan) (@lmkfun) February 15, 2025
Legal Trouble Brewing
As expected, lawsuits are already piling up. Burwick Law announced they are currently engaging with hundreds of investors who lost money due to their investment in the Hawk Tuah (HAWK) memecoin and Pump.fun. As part of their investigation, Burwick Law is examining legal options to hold responsible parties accountable for the token release.
$LIBRA Update – 02/17/2025 | 3:30 PM EST
We represent hundreds of clients who have lost millions due to LIBRA. This situation is still unfolding and evolving rapidly. Our priority is advocating for those affected and helping them explore potential avenues for financial recovery.…
— Burwick Law (@BurwickLaw) February 17, 2025
Who Was Behind LIBRA?
The main names linked to LIBRA are Kelsier Ventures CEO Hayden Davis and KIP Protocol CEO Julian Peh. While Argentine President Javier Milei briefly shared a post about LIBRA on X, he later deleted it and denied promoting the token. Some reports suggest his sister, Karina Milei, may have also been into it, but these claims remain unverified.
This is the group behind $LIBRA working directly with Meteora and KIP. Link is dead on Kelsier Ventures site now. But pulled from archives. Pictured is the CEO Hayden Davis and his dad Tom. Group was behind M3M3 scam, plus others. Insider info likely spread through Fantom Troupe. pic.twitter.com/8g97b2rwWT
— Beanie (@beaniemaxi) February 16, 2025
Meanwhile, Hayden Davis and Kelsier Ventures reportedly made around $100 million from LIBRA. Here’s what Davis has to say:
Addressing Libra: pic.twitter.com/lUlAADWnkq
— Kelsier (@KelsierVentures) February 16, 2025
Conclusion
The LIBRA token presents another story about large retail losses that insiders capitalize on in millions. Current legal proceedings have not yet established if investors who lost funds through LIBRA will receive compensation. The important lesson learned from this experience is to exercise extreme caution in memecoin trading activities.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
The post Major Losses for LIBRA Traders as 86% Lose Over $1K appeared first on Altcoin Buzz.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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