An investigation by #Bubblemaps and #CoffeeZilla has uncovered on-chain evidence linking two popular meme coins, LIBRA and MELANIA, both of which have caused investors to lose millions of dollars. The investigation found that the same group orchestrated these token issuances using closely linked wallets on multiple blockchains.
The story gained further attention when Argentinian President Javier Milei was accused of being involved in promoting #libra but denied any involvement. Meanwhile, KIP Protocol claimed to have only met Milei once and had no involvement in the project. However, an interview with Hayden Mark Davis, who claims to be a token launch strategist, revealed that he was the mastermind behind both the LIBRA and MELANIA projects.
Davis also admitted to having an inside deal with Dave Portnoy, founder of Barstool Sports, to reimburse Portnoy for the $5 million he lost from LIBRA. However, Davis said he faced threats because he controlled a large portion of the money from the offering.
Lessons for investors
Beware of meme coin projects: They can be manipulated and used for profit.
Do your own research and verify information: Don't rely solely on celebrities or social media posts.
BTCUSDTPerp90,183.3-1.86%Manage risk carefully: Don't invest more than you can afford to lose.
Risk Warning
Investing in cryptocurrencies carries a high level of risk and is not suitable for everyone. Please consider carefully before making a decision and only use capital you can afford to lose.
