Crypto specialists at Bubblemaps have just lately said their suspicion that the event group behind the Official Melania Meme ($MELANIA) coin might have sniped it (used automated instruments to immediately purchase new tokens once they launch to flip them for revenue).
The analysts level on the blockchain exercise of a Solana pockets handle they referred to as ‘0xcEA.’ Nameless buyers capitalized on Melania Trump’s new crypto launch on January 19 and bagged $2.4M.
They then transferred the funds to a different pockets on Avalanche and distributed them throughout a number of Solana wallets by a number of cross-chain transfers. This exhibits an effort to cover the transaction historical past.
The Hyperlink Between $MELANIA Coin and $LIBRA Crypto Rip-off
In response to Bubblemaps analysts, the 0xcEA pockets can be linked to a different infamous crypto fiasco, Libra ($LIBRA), which occurred on February 15.
The modus operandi was virtually an identical. The investor(s) cashed in roughly $6M, then moved the funds by a number of wallets between Arbitrum and Avalanche.
This led the analyst group to conclude that the 2 occasions had been sniped by the identical actors. Furthermore, the consensus is that the investor is both a member of the event group behind $LIBRA or somebody intently related to them.
Bubblemaps representatives additionally said that the identical actor is behind a handful of different pump-and-dump tasks.
The official $MELANIA coin surged to $13B inside 4 hours of its launch and misplaced 99% of its worth over the course of the next eight hours.
The Official Trump ($TRUMP) token suffered an analogous destiny with 38% of its worth being worn out in simply 40 minutes.
The Presidential Crypto Rip-off Pattern
The case of $TRUMP and $MELANIA crypto failures will not be singular, as there are a number of different examples of presidentially supported cash crashing in a single day.
Javier Milei’s $LIBRA Controversy
Javier Milei, the president of Argentina, discovered himself in scorching waters after selling $LIBRA on his X account.
On the time that Milei endorsed $LIBRA, many of the mission’s tokens had been held in a handful of digital wallets. The token itself had been created merely minutes earlier than Milei’s X endorsement.
In response to analysts, a number of buyers cashed in over $4M, with one investor making as much as $87M in earnings within the hours earlier than $LIBRA crashed.
Following the fiasco, Milei apologized for endorsing the failed mission and deleted his X submit. Nonetheless, a number of Argentinian legal professionals have filed legal fraud fees in opposition to the president, accusing him of rug-pull and ‘illicit affiliation to commit fraud.’
Central African Republic’s President Launches Suspicious Nationwide Meme Coin
President Faustin-Archange Touadera introduced the discharge of the Central African Republic Meme ($CAR) token in an X submit on February 9.
The announcement was instantly met with skepticism for a number of causes. The primary one is that deepfake detection instruments instantly flagged the president’s video as suspicious, but some customers argued that AI verification platforms are unreliable.
The second, and most necessary one, is that the $CAR token misplaced 60% of its worth shortly after reaching its $900M market cap. The scenario doesn’t look significantly better at the moment.
These circumstances present that counting on high-profile figures to tell your funding methods isn’t the wisest alternative. However there are methods to search out dependable meme cash and decrease the chance of shedding your funding.
Greatest Pockets ($BEST) Filters Out Suspicious Tasks
Greatest Pockets ($BEST) is a non-custodial platform that gives customers with full management over their pockets safety and asset administration. $BEST holders take pleasure in decrease transaction charges and early entry to one of the best presales.
As a substitute of browsing the online within the search of recent meme cash on presale, now you can discover and purchase vetted tasks in Greatest Pockets’s Upcoming Tokens part.
On high of that, Greatest Pockets allows you to declare tokens straight out of your account as an alternative of visiting the mission’s web site.
The platform’s Greatest DEX decentralized alternate permits for swift cross-chain transactions and solely lists verified crypto tasks and one of the best altcoins.
The $BEST token at the moment prices $0.024025, and the presale has amassed over $10M in funding. Buyers obtain dynamic staking of as much as 162% APY rewards based mostly on the variety of stakers.
Greatest Pockets Protects Buyers From Potential Scams Just like the $MELANIA Coin
Celebrities endorsing suspicious crypto tasks or outright scams is nothing new, however there are methods to keep away from these pitfalls.
Platforms like Greatest Pockets ($BEST) supply a safe ecosystem so that you can diversify your portfolio and handle your property safely.
$BEST holders may use the Group Governance characteristic to vote on proposed options for the Greatest Pockets ecosystem.
This makes Greatest Pockets a community-driven platform with a robust basis and user-oriented philosophy.
As all the time, you need to DYOR (Do Your Personal Analysis) earlier than investing. The crypto market stays unstable and dangerous.