Lawsuit uncovers Melania Trump and Javier Milei as props in a $57M memecoin scheme. Authorities revealed the details about the MELANIA and LIBRA tokens.
A brand new class motion case has been filed towards Melania Trump and Argentine President Javier Milei, with each accused of utilizing their names in an enormous memecoin rip-off.
The plaintiffs are suing Meteora founder Benjamin Chow and others. They allege that Chow carried out a $57 million pump-and-dump scheme utilizing tokens referred to as MELANIA and LIBRA.
Though the grievance has gained high-profile consideration, it clarifies that neither Melania Trump nor Javier Milei faces any accusations of wrongdoing. The scammers merely used their names to lend the scheme credibility.
Excessive-Profile Figures Exploited in $57M memecoin Rip-off
The case of Hurlock v. Kelsier Ventures signifies that Benjamin Chow orchestrated a well-organized marketing campaign to launch not less than 15 memecoins.
The U.S.-backed MELANIA token. First Woman shortly after the inauguration of President Donald Trump in 2025, initially soared in worth however then dropped by nearly 99 %.
Equally, supporters vigorously promoted LIBRA, associating it with Milei’s identify, however the mission failed shortly after its launch.
The scammers used the 2 tokens as main bait to lure unsuspecting traders right into a liquidity entice designed to learn the insiders.
Traders allege that Chow and his companions have used the popularity of Melania Trump and Javier Milei to create hype.
The grievance explains that the scammers used the names and themes of those public figures solely to draw consideration.s54wt2wgw3
This was a disguise for a calculated fraud, as this allowed the defendants to artificially inflate token values and withdraw them because the traders incurred tens of millions in losses.
Lawsuit Highlights Innocence of Trump, Milei
Most significantly, the authorized submitting clarifies that Melania Trump and Javier Milei, in particular person, don’t have anything to do with any type of the alleged fraud. They aren’t related to the scheme in any approach.
The anti-corruption workplace of Argentina additionally vindicated Milei of any exercise associated to the promotion of LIBRA tokens.
The lawsuit is a really grim warning concerning the risks of memecoins, that are pushed by movie star advertisements.
It reveals the way in which scammers can exploit trusted names to present an phantasm of authenticity. They then use this phantasm to arrange coordinated dumping of scams that wipe traders of their cash.