Analysts Uncover Links Between Libra and Melania Meme Coin Teams
Blockchain investigators have uncovered new evidence suggesting that the creators behind the controversial Libra token are likely the same team responsible for launching Melania (MELANIA).
Wallet Activity Raises Suspicions
In a detailed analysis, blockchain researchers identified a specific wallet—0xcEA—as a key player in both projects. This wallet was involved in the early trading of the Melania token in January, generating $2.4 million in profits before shifting funds through a web of transactions across multiple blockchains.
Weeks later, the same wallet was traced to the launch of the Libra token, following an eerily similar pattern. When Libra went live in February, 0xcEA executed rapid trades, reportedly making $6 million through a network of side wallets.
A Familiar Pump-and-Dump Playbook
The launch of Libra turned disastrous, with insiders allegedly withdrawing $107 million from the project. The sudden liquidity drain led to a 94% price crash within hours, leaving retail investors holding the bag.
Similarly, the Melania token had experienced an explosive rise, reaching a staggering $13 billion market cap before plummeting 99% shortly after its debut.
Investigators believe the same group orchestrated both launches, leveraging cross-chain transfers and insider trading tactics to maximize profits.
The Meme Coin Frenzy
Despite frequent accusations of fraud in the space, meme coins remain one of the most active segments of crypto. A recent study found that nearly a third of investor interest in 2024 was directed toward these speculative tokens, highlighting their growing influence in the market.
However, as more memecoin projects follow similar patterns, skepticism is mounting about how sustainable these trends are—or if they are simply a vehicle for coordinated insider profits.
Disclaimer: This content does not constitute trading or investment recommendations. It’s essential to conduct your own research before purchasing any cryptocurrency or investing in any services.
