Onchain Data Shows Libra Meme Coin Investors Lost $251 Million in Pump and Dump Scheme
According to blockchain research, investors who suffered the most losses in the Libra meme coin’s pump and dump scam lost a total of $251 million.
Research firm Nansen found that of the 15,430 wallets that sold tokens at losses or gains of more than $1,000, more than 86% did so at losses, totaling $251 million.
“In contrast, only 2,101 profitable wallets received about $180 million in realized gains,” according to a February 19 Nansen report examining the biggest winners and losers of Libra (LIBRA) token trading. This token briefly gained popularity due to a post on social media by Argentine President Javier Milley