After the Argentinian President Javier Milei had ended the Libra-Meme-Munt that was launched on February 14, 2025, it became the subject of research by experts because of a pump dump swam. When insiders quickly sold their shares, they withdrew $ 107 million, so that the value of the currency crashed and demanded more than $ 4 billion from his market capitalization within a few hours. This report will investigate how the market reacted, the general sentiment of the community and the effects of the launch of the currency. We will also investigate the roles of large figures, the Argentinian government and what can happen with the $ Libra -Munt afterwards.
From startup to scam: All about Libra Meme Coin
$ Libra is a cryptocurrency created by entrepreneur Hayden Davis, who is also the CEO of Cheese Ventures, a crypto investment company. Bloomberg reports that Kip Protocol, a company that focused on decentralized AI technology, was involved in launching $ scales.
Chicken claims that they have joined after the launch to help select technical projects and to support AI efforts. The coin runs on the Solana Blockchain, known for its fast and cheap transactions, popular with Meme Coin Traders.
People could buy it through a website with the name Vivalalibertadproject.com, a slogan that is often used by Milei, whose political party is also called La Libertad Avanza.
Presidential approval ignites a meteorical price destination
On the evening of February 14, the Argentinian President Javier Milei placed on social media that the $ Libra -to smell the economy of Argentina and support small businesses. He has linked to the Token website and promotes it as a way to finance local companies and companies. It was reported that the $ scale was made just before Milei’s announcement and that the website domain was registered the same day.
Milei claimed in his position that Argentina attract worldwide investments. Initially, the price of $ Libra started near Nul and was concentrated in a few digital portfolios. After the approval of Milei, the price rose to almost $ 5 and his market capitalization pushed more than $ 4 billion.
https://twitter.com/kobeissiletter/status/1890611969075413316
However, a warning for the community appeared on its position and users advised to verify the project before they are busy, which suggests that it can be a scam in which developers leave the project after collecting funds. Shortly thereafter, Milei removed his function and claimed that he was not fully aware of the project details and decided to stop supporting them.
Within a few hours the value of token fell to just cent and market capitalization lost more than $ 4.4 billion. According to At the Kobeissi letter, insiders started selling $ 87.4 million to $ Libra within the first three hours of the launch, and 82% of the tokens was checked by a single group without public disclosure of the economy of token.
Hayden Davis, the entrepreneur behind $ Libra, admitted to keep some profit despite the sharp decline of token.
The president’s gamble was unexpected
Interest among retail investors in Memecoins with the display of celebrities rose after the release of the official Trump (Trump) Memecoin by US President Donald Trump on January 18. This was closely followed by the launch of the Melania Meme (Melania) token by First Lady Melania Trump on the Solana network on January 19, just before the president’s inauguration on January 20.
Although he admitted the error by the president, he again went back to a post guidance on how he could buy Memecoin Librain. The approval of the Libra Meme Munt by the Argentinian President himself is very unexpected. A promotion of a random meme coin through such a highly appreciated government personnel is the worst. This step by the president has been considered unusual and indicates his active involvement in the scam.
The scam of scales too affected Trump -token, resulting in a fall of $ 500 million in market capitalization.
Argentina officially launches $ libra research
Before the collapse, other blockchain data companies had already expressed concern about the project. For example, the blockchain analysis company Bubblemaps emphasized problems with the tokenomics of Libra, and pointed out that 82% of the tokens was available to be sold from the start.
According to a statement from the presidential office of Argentina, the oficina del Presidente, published on X on 16 February, Milei asked the anti-corruption agency to investigate itself and all other government members for possible misconduct.
In the meantime, Milei is under pressure from political rivals to be accused after his approval of a cryptocurrency that led to a $ 100 million scam.
In his statements and tweets, Milei has denied the project in advance. However, he has removed these statements. Moreover, various stories come from others involved. At the beginning of Monday, Kip Protocol, a crypto and AI company that previously worked with the Argentinian government, issued a detailed statement with many claims about their role in the launch of the scales.
The company insists that their CEO, Julian Peh, only met President Milei once on October 19, 2024, and that meeting had no specific projects, including “Viva La Libertad” or launches. According to the company, no other employees had meetings with the Argentinian president.
Important players and their $ Weighbi -Combined
After the Libra Munt Puinhoop, the investigative journalist Coffeezilla contacted people who were connected to the 0xcea address and his makers. He discovered that Hayden Mark Devis, CEO of Celier Ventures, his father Tom Davis and the famous scammer Arunkumar Sugadevan were behind it.
In an interview, Tom Davis known that their group not only made the scales -Memecoin, but also manipulated the first sale of its profit. They used different wallet addresses to buy early and earned $ 6 million of these promotions.
Trading of prior knowledge
The research into the scales -scourel showed that the scammers behind the project used their internal knowledge to play the market to their advantage. They used several portfolios to quickly purchase large quantities of token as soon as it was launched, a tactic that is known as ‘sniping’.
This includes buying a newly launched token as soon as it is released, often before regular investors get the chance to respond. These early buyers then sell their large companies a few hours later for a considerable profit, so that ordinary investors loses losing.
In the Case Libra, the snipers, coupled to the wallet address 0xcea, sold more than $ 100 million to token, just when the market value reached a peak, reached the increase in the rise and left other investors with devalued assets behind.
Connection between Melania and Libra Memecoin
A joint investigation by the Blockchain analysis company Bubblemaps and the pseudonymous on-chain researcher Stephen Fvise, also known as Coffeezilla, has revealed evidence that the same group was behind the failed launches of both the scales and Melania tokens. Bubblemaps shared on Twitter, “After analyzing cross-chain transfers and timing patterns, we are convinced that this is the case.”
The research showed that associated wallet activities between different projects showed how the profit of one scheme was used to finance another through cross-chain transfers. For example, an important wallet on the Solana network, with the ‘P5TB4’ label, earned more than $ 2.4 million from early transactions from the Melania -Token and then transferred those funds to an avaline wallet ‘0xcea’ The maker of the token is linked.
Blockchain records show that the wallet 0xcea only a few hours before the $ scale was launched 1.6 million USDC transferred to three Solana Wallets. These portfolios then quickly bought 3.77 million $ Libra tokens and sold them for 8.25 million USDC, making a profit of $ 6.65 million.
Further analysis indicates that the wallet “06e2” has transferred USDC from Avalanche to Solana and has made payments to Dave Portnoy, which suggests that this wallet can be directly linked to the $ libra team.
The Libra token, which briefly had the support of the Argentinian President Javier Milei, quickly reached a market capitalization of several billions of dollars before he dropped 95% when insiders rose $ 87 million. Likewise, the Melania -token, approved by the American First Lady in January, initially increased in value, but then crashed, which led to significant losses for daily investors.
According to Bubblemaps, this group has probably led various other token launches with names such as trust, Kacy, Vibes and Hood, all those who follow similar patterns of fast profit, followed by sharp decreases.
Track the same snipers: from Trump to Libra
New data from Arkham indicate a pattern of fast large-scale purchase by the same group behind both the Trump and Libra-Memecoin. Blockchain -records show that an entity connected to the 6QS address -that has shipped more than $ 1 million to Trump -Tokens in the first block of the launch -to distribute those tokens to the 5CP portion and related addresses , eventually sell Trump for substantial profit.
https://twitter.com/arkham/status/1891547114032791805
Shortly after President Javier Milei has retweeted a “How to Buy Libra” message, bought an address linked to the same network for $ 5 million in scales.
This fast, high volume purchase shows the earlier Trump-cottage strategy, which suggests a similar approach as the operation of memecoin launches and notes. Researchers say that such repeated, large-scale tactics indicate systematic insider market manipulation, which ensures that the people behind these transactions are orchestrate pump-and-dump schemes in several projects.
Conclusion
Until the investigation is concluded, we wonder who is really behind the scam: the president of Argentina, Kip protocol, Cuckier Ventures or Hayden Davis?
The scales incident emphasizes the increasing dangers in the Memecoin market. Although many investors are attracted to the potential for fast efficiency, it is often the insiders who actually benefit.
As more fraud is exposed, the demand for stricter regulations and greater openness in the memecoin space becomes more urgent. The role of the 0xcea wallet in the scales -swam shows the dark side of the crypto space, where misleading financial tactics and unfairness run unbridled without any checks.