On-chain analysis unveiled unusual financial operations linked to the MELANIA and LIBRA teams, raising suspicions of financial misconduct and money laundering.
Discovery of Suspicious Transactions
On-chain data analysis showed a range of suspicious transactions involving wallets associated with MELANIA and LIBRA insiders. These activities involved buying and subsequently selling POPE tokens at a total loss of $2.73 million, prompting suspicions of financial misconduct.
Insider Links and Laundering Allegations
The insider teams spent 19,846 SOL to acquire the meme coin POPE and then sold it at a significant loss. Researchers suggest the operation was potentially money laundering. A surge in transaction volumes suggests increased activity amid these allegations.
Analysis and Implications for Participants
Analysts from Bubblemaps found that the same individuals were behind the LIBRA and MELANIA tokens. This team has profited over $100 million through market manipulation and liquidity withdrawal. They are also linked to other projects such as VIBES, KACY, and TRUST. These revelations have led to calls for further investigations, including potential links with high-profile figures.
The current situation highlights the need for vigilance and thorough investigation to ensure transparency and fairness in the financial operations of the Melania and Libra projects.
