Bubblemaps found that $LIBRA and MELANIA were developed by the
same team, using a pump and dump scheme for profit. Initially speculative, cross-chain transaction analysis confirmed the connection between the wallets involved. One wallet (P5tb4) earned $2.4M from MELANIA and transferred all profits to 0xEA , an address belonging to the MELANIA founding team.
0xEA then went on to fund DEfcyK , the man behind $LIBRA . The team withdrew $87M from LIBRA's liquidity pool. They also launched other tokens like $TRUST , $KACY , $VIBES , $HOOD , with a supply control model to manipulate prices. $HOOD even had 90% of its supply locked in a group of addresses , a clear sign of market manipulation.
Not only did the group create tokens to siphon liquidity, they also used insider information to conduct sniping transactions , earning over $100M from $LIBRA . Bubblemaps questioned whether KIP Protocol, Kelsier Ventures, and Hayden Davis were involved. Coffeezilla stepped in and posted a video investigating the incident. 0 reply
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