The $LIBRA and $MELANIA teams have come under scrutiny following accusations of laundering $2.73 million through dubious blockchain transactions.
Analysis of $LIBRA and $MELANIA Transactions
The $LIBRA and $MELANIA teams reportedly spent 19,846 SOL (approximately $2.76 million) to buy a memecoin called POPE, only to later sell it for 175 SOL ($24K). This has led to suspicions that the funds were moved into other wallets in a seemingly legal manner. As Lookonchain noted on Twitter, these actions resemble deliberate fund laundering.
$LIBRA's Previous Issues
Previously, $LIBRA was involved in a scandal with Argentinian President Javier Milei, who was alleged to have endorsed $LIBRA, causing a temporary price surge before a quick crash. Following this, wallets linked to $LIBRA's creator withdrew tokens worth $99 million, leading to a federal investigation into the project's activities.
Hidden Links between $LIBRA and $MELANIA
An analysis by Bubblemaps revealed links between the $LIBRA and $MELANIA teams, indicating potential fund laundering. These suspicions cast doubt on the legitimacy and transparency of the projects' market activities.
The scandals surrounding $LIBRA and $MELANIA highlight the vulnerabilities of crypto projects with unclear aims, raising concerns about potential money laundering and insider trading practices. For investors, it is crucial to remain cautious and well-informed to avoid these pitfalls.
