On-chain data reveals the dark side of $LIBRA: a carefully planned series of leek-cut plans

Author: Bubblemaps

Compiled by: TechFlow

$LIBRA was created by the same team that launched MELANIA and other short lifecycle tokens, and this article will reveal the truth about the incident through new evidence on-chain.

(The original image is from Bubblemaps , compiled by Shenchao TechFlow)

There has been long speculation that MELANIA and LIBRA may be manipulated by the same team, but there has always been a lack of direct evidence – until now.

By analyzing the capital flow and time patterns of cross-chain transfers, we can almost confirm that there is indeed a close connection between the two.

It all started with our in-depth investigation of sniper activity in the MELANIA project.

One of the addresses caught our attention: P5tb4. The address made a cumulative profit of more than US$2.4 million through related operations.

More interesting is that this address transfers all profits to 0xcEA, a wallet address we confirm that it is related to the MELANIA creator.

This transfer is done through the USDC Cross-chain Transfer Protocol (CCTP), which allows for the rapid transfer of funds between different blockchains.

Through analysis of on-chain funding transactions and cross-chain transfers, we found that 0xcEA is directly related to the creator of MELANIA.

We are sure that these connections are by no means a coincidence.

This suggests that the creator of MELANIA, or someone close to their team, snatched up their own token offerings using internal information when the project started.

We continuously monitor the activity at this address. A few weeks later, we found that 0xcEA provided funding to DEfcyK, which is the creator of $LIBRA.

That's right, it's the creator who cashed out $87 million through $LIBRA.

What is even more shocking is that 0xcEA also sniped $LIBRA through multiple associated addresses, and the funding sources of these addresses are also provided through the USDC Cross-chain Transfer Protocol (CCTP). Ultimately, they made $6 million in profit from $LIBRA.

This operation method is exactly the same as that of MELANIA.

(The original image is from Bubblemaps , compiled by Shenchao TechFlow)

But things haven't ended here. We also found many token issuances related to 0xcEA, most of which are used for "pump and dump" operations. Here are some of these tokens:

TRUST, KACY, $VIBES, and $HOOD.

From today's analysis, we see a clear pattern: greed .

The creators of MELANIA and LIBRA not only extract value by issuing tokens, but also use internal information to snatch these tokens to make huge profits.

With $LIBRA alone, their profits exceeded $100 million.

Finally, we have to ask a key question: Who is the trader behind these tokens? Is it KIP Protocol, Kelsier Ventures, or Hayden Davis?

Want to know the answer? Please follow Coffeezilla's latest videos .

(The original image is from Bubblemaps , compiled by Shenchao TechFlow)