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The LIBRA meme coin, initially promoted by Argentina’s President Javier Milei, was doubtless created by the identical staff behind MELANIA and a number of different pump-and-dump tokens, Bubblemaps says.
Bubblemaps analysts stated in a Feb. 17 thread on X that new on-chain proof suggests the LIBRA staff, or somebody near them, had been additionally behind the launch of Official Melania Meme (MELANIA), the meme coin tied to US First Girl Melania Trump. The analysts added that the identical staff doubtless additionally sniped each tokens.
Pockets That Sniped MELANIA Netted $6 Million Revenue Snipping LIBRA
Shortly after its launch, the LIBRA token briefly rose to a market cap of $4.56 billion at 10:30 p.m. UTC on Feb. 14, boosted by the endorsement of Argentina’s Milei.
However it shortly plunged greater than 94% to a $257 million market cap simply 11 hours after its debut on decentralized exchanges. Milei withdrew his backing, however now faces requires impeachment by opposition politicians in Argentina.
Bubblemaps positioned the highlight on a Solana pockets dubbed “0xcEA” because the tackle answerable for sniping MELANIA on Jan. 19, incomes $2.4 million income in consequence. This tackle then transferred the positive factors to a different pockets on the Avalanche blockchain.
In keeping with the analysts, the Solana and Avalanche wallets are linked by a number of distinctive paths. This consists of a number of completely different funding transactions and cross-chain transfers.
5/ There are a number of methods to attach 0xcEA with the creator of MELANIA, by means of funding txs and cross-chain transfers.
We’re assured these aren’t coincidental pic.twitter.com/Z3eOIx6GgX
— Bubblemaps (@bubblemaps) February 17, 2025
Weeks after sniping MELANIA, the analytics agency observed that the identical 0xcEA tackle then sniped LIBRA for a $6 million revenue. The Bubblemaps analysts concluded that this close to equivalent sniping exercise on 0xcEA, coupled with USDC Cross-Chain Switch Protocol (CCTP) funding patterns, point out that each LIBRA and MELANIA had been launched and sniped by the identical staff.
Hyperlinks To Earlier Pump And Dumps
The analysts added that their analysis uncovered many token launches linked to the 0xcEA tackle.
9/ However there’s extra to the story. We’ve detected many token launches linked to 0xcEA, most of that are clear pump and dumps. Right here’s a few of them:$TRUST, $KACY, $VIBES — and even $HOODhttps://t.co/zTFYGU2uep
— Bubblemaps (@bubblemaps) February 17, 2025
Tasks similar to TRUST, KACY, VIBES and HOOD, which the Bubblemaps analysts stated are “clear pump and dumps,” have all been linked to the pockets.
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