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LIBRA and MELANIA manipulator group profited hundreds of millions of dollars
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- @airdropdecks
On-chain evidence reveals that the team behind the Libra and MELANIA memento belong to the same group, using an organized fraud model to profit hundreds of millions of dollars in a short time.
According to Bubblemaps' Feb. 17 post, multiple onchain evidence suggests that LIBRA and MELANIA are not independent projects, but are essentially manipulated by the same group to profit from investors.
After analyzing cross-chain transactions and trading patterns, Bubblemaps and Coffeezilla have enough basis to assert that the group used an organized fraud model to collect hundreds of millions of dollars.
The investigation began when Bubblemaps tracked sniper transactions (buying tokens as soon as it was just listed with a bot) on MELANIA and discovered the prominent address: P5TB4, which collected $2.4 million.
It is unusual that all this money is transferred to 0xCEA, the wallet with direct contact with the creator of MELANIA. These transactions take place not only on a blockchain, but also through the USDC Cross-Chain Transfer Protocol (CCTP), which makes it easy for this group to move assets between multiple networks without being noticed.
From there, Bubblemaps identified 0xCEA as not just an individual, but a hub for coordinating token price manipulation. The wallet funded DefCyk, the direct wallet address that created LIBRA, and was the one who raised $87 million from the token sale shortly after it was widely promoted.
Not only that, 0xCEA also snipes LIBRA itself with multiple sub-addresses, all funded through CCTP, helping the group reap $6 million in profits in just a short time. This pattern is similar to how the group had manipulated MELANIA earlier.
More importantly, the investigation also found that 0xCEA not only stopped at LIBRA and MELANIA, but was also associated with a series of other tokens with a clear pump & dump sign. The group is constantly creating new tokens, priced with insider trading, and then selling and withdrawing money before the market can react.
As a result, the creators of MELANIA and LIBRA not only issue tokens for profit, but also use insider information to snipe their own projects, collecting more than $100 million from LIBRA alone. This is not just a mere price manipulation, but an organized fraud scheme, with a much larger scale than the market has ever witnessed.
The question now is: Who is really behind these token releases? Will it be KIP Protocol, Kelsier Ventures, or even a bigger figure like Hayden Davis?
