Investigators Link LIBRA and MELANIA Tokens to the Same Insider Group

Blockchain analysis has exposed a potential insider scheme behind the LIBRA and MELANIA meme coins. On-chain data reveals that a key Solana wallet (“0xcEA”) made millions from both tokens using coordinated trading tactics. The same wallet, linked to Delhi-based market makers, has also been tied to other pump-and-dump scams, including a fake Robinhood (HOOD) token. Both LIBRA and MELANIA followed a predictable pattern—hyped launches, price surges, and crashes, leaving retail investors at a loss.

Recent blockchain analysis has uncovered strong evidence suggesting that the LIBRA and MELANIA meme coins, along with other short-lived cryptocurrencies, might have been created by the same insider group. On-chain data analysis conducted by Bubblemaps has linked the two tokens through a series of transactions pointing to coordinated insider trading and possible market manipulation.

Bubblemaps' recent posts on X reveal connections between LIBRA and MELANIA tokens and an insider group:

According to reports, an identified Solana wallet address, known as “0xcEA,” was actively involved in sniping activities during the MELANIA token launch. The wallet reportedly amassed around $2.4 million in profits before transferring the funds to another wallet on the Avalanche network. Subsequently, the same wallet was discovered to be involved in the launch and promotion of LIBRA, executing similar insider trades and generating an estimated $6 million in profits.

The findings suggest that a single entity or closely connected individuals may have orchestrated both projects. This group has also been linked to other dubious “pump and dump” schemes, including a fraudulent Robinhood (HOOD) token that saw a rapid surge in market capitalization before collapsing, leaving investors with significant losses.

Further reports indicate that the market-making activities for LIBRA were managed by an entity based in Delhi, which was also involved in MELANIA’s market operations. Blockchain data confirms that the same wallets were used in both projects, reinforcing suspicions of coordinated insider activity. This pattern has raised concerns over a growing trend in meme coin scams, where developers execute rapid pre-launch accumulation, artificial price inflation, and subsequent mass sell-offs at the expense of retail investors.

The LIBRA token experienced a brief period of popularity before crashing, a trajectory that mirrored the MELANIA token’s market behavior. These revelations have fueled debates over the lack of regulatory oversight in the cryptocurrency industry, particularly within the rapidly growing meme coin sector, where speculative trading is rampant.

Industry experts warn that while decentralized finance (DeFi) and blockchain technology offer greater transparency, they also present opportunities for bad actors to exploit unsuspecting investors. Analysts urge traders to conduct thorough due diligence before investing in newly launched tokens, especially those associated with celebrity names or trending narratives.

This case highlights the pressing need for more robust investor protections and regulatory measures to curb fraudulent practices in the crypto space. In light of these developments, affected investors are calling for increased accountability and possible legal actions against those responsible for these alleged schemes.

As the story unfolds, regulatory authorities and blockchain analysts continue to investigate the full extent of this operation, with hopes of preventing similar incidents in the future. Investors are advised to stay cautious and skeptical of hype-driven crypto projects that lack transparency or credible backing.