Insider operations earn more than 100 million US dollars, LIBRA and MELANIA are the same team behind

Author: Alex Liu, Foresight News

Source of the link: Bubblemaps

Recently, the crypto community has exploded with the LIBRA token, which was briefly endorsed by Argentine President Javier Milei and the MELANIA token linked to the US First Lady Melania Trump. discuss. Through cross-chain transfer records and time pattern analysis, the blockchain data analysis company Bubblemaps revealed for the first time that the team behind the two projects were actually the same group of people through "sniper transactions" and liquidity escape. Profits of over US$100 million were made.

Background: From the presidential stand to the collapse controversy

Libra Token 's "Presidential Fallen"

Argentine President Mile met with project technical consultant Hayden Davis on January 30, 2025 and promoted Libra tokens on social media, sparking market frenzy. However, within hours after the token went online, the project party withdrew $87 million of USDC and SOL from the liquidity pool, causing the price to plummet by more than 80%. Mile then deleted the tweet and launched an anti-corruption investigation, but it has caused huge losses to investors.

 Market data source: GMGN

Project parties shirking responsibility: KIP Protocol claims to be responsible for technical supervision only, while Hayden Davis of market maker Kelsier Ventures accused the presidential team of "temporary remorse" causing panic.

Melania Token 's "Political Gamma"

In January 2025, the market value of Melania token endorsed by Melania Trump exceeded 10 billion US dollars on the first day of its launch, but then it collapsed rapidly due to insider selling, and its market value shrank to less than 2 billion US dollars. Its model is highly similar to LIBRA, both relying on the celebrity effect to attract retail investors, and then evade and harvest through liquidity.

 Market data source: GMGN

Evidence: The "harvest chain" controlled by the same team

Bubblemaps' analysis reveals the following chains:

Melania Token 's "Self-Direction"

Address P5tb4 made a profit of US$2.4 million by sniping Melania tokens, and then transferred funds to 0xcEA through Cross-chain protocol (CCTP). The latter was confirmed as the creator association address of the Melania token.

The team used internal information to buy tokens in advance and sold at the price high to form a typical "pumping and smashing" model.

Libra Token 's "Same Script"

Address 0xcEA reappears, providing financial support to Libra token DEfcyK, the creator of Libra, and conducting "snatch-up transactions" on Libra through multiple associated wallets, making a profit of $6 million. Meanwhile, the Libra team drew $87 million from the liquidity pool, further exacerbating the collapse.

On-chain data shows that the wallets that were rushing to buy Libra in the early stages are highly coincidental with Melania tokens, and are all related to Rug Pull projects such as TRUST, KACY, and VIBES, indicating that the same gang has long manipulated multiple tokens.

" Iron Proof" of Cross-chain Capital Flows

By analyzing the on-chain records such as Solana and Avalanche, Bubblemaps found that the 0xcEA address frequently uses cross-chain protocol to transfer funds to cover up the true flow. For example, the profits of Melania tokens flow into Libra's creator wallet after being converted to USDC via CCTP.

Related parties and interest network

Core characters and institutions

Kelsier Ventures: The founder of the Hayden Davis family (father Tom Davis and younger brother Gideon Davis) is accused of being a market maker of Libra. It is called a "family criminal group" by encrypted KOLs.

KIP Protocol: Despite denying participation in the token issuance, its representative Julian Peh was hinted as a scapegoat by Hayden Davis.

" Celebrity Endorsement" Gray Chain

Members of Milei's government were exposed to accepting bribes to promote the token platform. For example, Mile's cronies charged $5 million to facilitate the president's publicity for LIBRA.

Community reflection and supervision calls

The "Crisis of Trust" in the Crypto Community

Developer Farokh called for the exposure of all KOLs that charge marketing fees, and KOL Dave Portnoy revealed that it has internal news, further exposing industry corruption.

The founder of Argentina's Lambda Class pointed out that such incidents seriously damaged the country's reputation in the crypto industry and many integrity builders were implicated.

The urgent need for regulation and transparency

The Argentine government has set up an inter-departmental investigation team to integrate financial, anti-money laundering and other institutions to hold them accountable.

Industry experts call for strengthening the application of on-chain monitoring tools and developing disclosure rules for celebrity endorsement tokens to reduce information asymmetry.

Greedy Games and Warnings

The Libra and Melania token incident reveal the darkest side of the crypto market: the triple trap of celebrity halo + insider manipulation + liquidity fraud. Bubblemaps’ on-chain analysis not only provides evidence of accountability for victims, but also sounds the alarm for the community:

• Beware of "political endorsement" tokens: celebrity platforms are often short-term hype signals, not value support.
• Strengthen on-chain investigative capabilities: Ordinary investors can use tools to track the wallets and capital flows of large investors to identify suspicious patterns.
• Promote industry self-discipline: Project parties need to disclose token allocation and liquidity management plans to reduce information black boxes.

This farce may be just the tip of the iceberg, but only transparency and accountability can clear obstacles for the long-term development of the crypto ecosystem.