By Nermeen Nabil Khear 
The volatile memecoin LIBRA was created by the same team behind US First Lady Melania Trump’s MELANIA asset, according to the blockchain analytics and visualization platform Bubblemaps.
Argentinian President Javier Milei backed the launch of LIBRA, a token supposedly designed for “encouraging the growth of the Argentine economy.”
LIBRA’s market cap soared to $4 billion within hours before the price collapsed, and Milei backtracked his support of the coin.
Bubblemaps teamed up with crypto journalist and YouTuber Coffeezilla to analyze cross-chain transfers and timing patterns for LIBRA and MELANIA.
“It all started when we investigated sniper activity on MELANIA. One address stood out: P5tb4, which made over $2.4 million. But something else caught our attention:
This address sent all the profits to 0xcEA, a wallet linked to the creator of MELANIA. The transfer was done using USDC Cross-Chain Transfer Protocol (CCTP). There are multiple ways to connect 0xcEA with the creator of MELANIA, through funding transactions and cross-chain transfers. We’re confident these aren’t coincidental.
This means the creator of Melania – or someone close to their team – sniped their own launch. We kept a close eye on this address to track their activity. Weeks later, we noticed that 0xcEA is funding DEfcyK, the creator of LIBRA. Yes, the same creator of LIBRA who cashed out $87 million.
To make it worse, 0xcEA also sniped LIBRA and made $6 million in profit, using multiple side addresses funded via CCTP. This is similar to the MELANIA case.”
Bubblemaps also detected other token launches tied to 0xcEA that were “clear pump and dumps.”
Coffeezilla later interviewed Hayden Davis, one of the creators of LIBRA. During the interview, Davis copped to also being involved with the MELANIA launch and sniping it.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Argentina Memecoin LIBRA Created by Same Team Behind First Lady’s MELANIA: Bubblemaps appeared first on The Daily Hodl.
The volatile memecoin LIBRA was created by the same team behind US First Lady Melania Trump’s MELANIA asset, according to the blockchain analytics and visualization platform Bubblemaps. Argentinian President Javier Milei backed the launch of LIBRA, a token supposedly designed for “encouraging the growth of the Argentine economy.” LIBRA’s market cap soared to $4 billion
The post Argentina Memecoin LIBRA Created by Same Team Behind First Lady’s MELANIA: Bubblemaps appeared first on The Daily Hodl. Trading, libra, melania, memecoins, News