New Findings Expose MELANIA and LIBRA Wallets in Alleged Meme Coin Money Laundering Scheme

Suspicious Transactions Linked to MELANIA and LIBRA Insider Teams Raise Concerns

Lookonchain has surfaced revealing potentially illicit transactions involving wallets tied to MELANIA and LIBRA token insiders.

The blockchain analytics firm posted on X last night that significant sums were funneled through various accounts, including a common wallet, leading to serious allegations of financial misconduct.

$2.76 Million Spent on POPE, Resulting in Significant Loss

According to the Lookonchain, insiders behind the MELANIA and LIBRA tokens spent a massive 19,846 Solana (SOL) — equivalent to $2.76 million — to acquire POPE, a meme coin.

However, the tokens were later sold for only $24,000, resulting in a substantial loss of over $2.7 million.

The funds from this sale were subsequently transferred to other wallets, raising suspicions of potential money laundering activities.

Financial Tactics Draw Scrutiny as Transactions Surge

The same analysis identified a disturbing surge in large transactions from both MELANIA and LIBRA-linked wallets.

Transactions exceeding $100,000 increased by over 400% for MELANIA and 350% for LIBRA.

This sharp rise in activity came amid allegations of illicit financial activity, as investors moved their assets in response to the unfolding scandal.

Libra Insiders Named in Alleged Laundering Scheme

Bubblemaps, a blockchain data analysis firm, revealed that the individuals behind both the MELANIA and LIBRA tokens were closely connected.

It was further disclosed that the same network of insiders was linked to several other controversial projects, including VIBES, KACY, and TRUST.

In one instance, an address tied to MELANIA was found to have earned $6 million from its involvement with LIBRA, using multiple wallets to disguise the transactions.

The Role of Argentina’s President in LIBRA’s Collapse

The LIBRA token’s brief rise to prominence saw a surge in value after Argentine President Javier Milei publicly endorsed it.

In a tweet, he described the coin as a promising opportunity for investors looking to support small businesses in Argentina.

This endorsement sparked a frenzy, propelling the token’s value to over $5 within an hour, reaching a market cap of more than $4 billion.

However, shortly after, the token’s value crashed by over 80%, leading to suspicions of market manipulation.

In response to the token’s collapse, President Milei retracted his endorsement and initiated an investigation into the project.

He stated that he was unaware of the details surrounding the LIBRA coin and, upon learning about them, decided not to promote it further.

Translation:

A few hours ago I posted a tweet, as I have so many other times, supporting a supposed private enterprise with which I obviously have no connection whatsoever.

I was not aware of the details of the project and after having become aware of it I decided not to continue spreading the word (that is why I deleted the tweet).

To the filthy rats of the political caste who want to take advantage of this situation to do harm, I want to say that every day they confirm how vile politicians are, and they increase our conviction to kick them in the ass.

VLLC!

Critics, however, have called for his impeachment, alleging that he may have facilitated fraud by endorsing the project.

MELANIA Token Faces Sharp Decline Following Initial Surge

The MELANIA token, launched on 19 January 2025, quickly gained attention after it was endorsed by former First Lady Melania Trump.

The token saw a market cap of $4 billion within just 30 minutes of its release.

However, this meteoric rise was short-lived, as its value plummeted by more than 90%, falling from $13.7 to around $1.4 within hours.

LIBRA Scandal Spurs Investigation by US Authorities

As the LIBRA token's creators face scrutiny, the US Department of Justice has launched an investigation into the token's creation and subsequent collapse.

The probe is focusing on potential economic crimes, including market manipulation and fraud.

Key figures, including the token's founders Hayden Davis and Julian Peh, as well as Argentine government officials, are under investigation.

The collapse of LIBRA, coupled with the allegations of insider trading and money laundering, has raised serious questions about the integrity of the broader meme coin market.

With the US authorities involved, further developments are expected in the coming weeks.