Going Down the Rabbit Hole: Who Might Really Be Behind Libra and Its Links With MELANIA

The Bubblemaps team has unraveled the onchain trail linking the people behind Libra, the token endorsed by Argentine President Javier Milei, with MELANIA, another well-known meme token.

Libra Comes Under Scrutiny: Bubblemaps Reveals the MELANIA Links

The Libra scandal has given rise to a series of allegations about the responsibility of each party for the disastrous launch and subsequent dump of the token. While some actors have publicly revealed their involvement, there are also individuals still operating in the shadows of the project, which have also been linked to the launch of MELANIA.

Publicly, the responsibility has fallen on Hayden Mark Davis, a representative of Kelsier Ventures, who has acknowledged his role in the botched launch of Libra. In a recent interview with investigative youtuber Cofeezilla, Davis also stated that Tech Forum Argentina founder Mauricio Novelli and Manuel Terrones Godoy were also part of this development.

However, there is still a part of the story under wraps: Bubblemaps, a blockchain data analysis platform, found that an address identified as P5tb4, which sniped the launch of Libra, sent all of the earning from its activity to 0xcEA, another address linked to the creator of MELANIA.

Also, Bubblemaps determined that this address was funding DEfcyK, the address of the creator of $LIBRA, which cashed out $87 million.

Bubblemaps declared:

To make it worse, 0xcEA also sniped $LIBRA and made $6M in profit, using multiple side addresses.

The address may belong to Davis, who stated that he was part of the launch team of MELANIA, but commented that its team was not the biggest sniping party of that launch.

However, other parties have already revealed that they knew about Libra before it was launched. According to Jupiter, The Solana-based decentralized exchange, the launch of an Argentina-themed meme coin was an open secret in these circles. However, its founder meow was the only one on the team that was made aware of Libra’s launch the same day that it was launched, but did not know the contract address before the launch.

Read more: The Libra Incident: Examining Argentine President Javier Milei’s Confusing Token Endorsement and Its Destructive Aftermath