In an explosive revelation shaking the cryptocurrency world, the volatile memecoin LIBRA, reportedly backed by Argentina’s President Javier Milei, has been unveiled as the brainchild of the same team that launched the controversial MELANIA token. Blockchain analytics platform Bubblemaps, with investigative support from renowned crypto journalist and YouTuber Coffeezilla, unraveled the intricacies of this elaborate crypto scheme. Launched amidst promises of bolstering Argentina’s economy, LIBRA saw its market cap skyrocket to a staggering $4 billion in mere hours before collapsing under a cloud of controversy, forcing President Milei to withdraw his endorsement. At the heart of this unraveling mystery is the enigmatic wallet address 0xcEA, linked to the creators of both LIBRA and MELANIA. Utilizing cross-chain transfers and sniper tactics, this address funneled millions, raising suspicions of orchestrated pump-and-dump schemes. The investigative duo traced these dubious transactions, revealing insider profiting of over $87 million from LIBRA alone. Further complicating the narrative, public discourse sparked by Coffeezilla’s confrontational interview with Hayden Davis, one of LIBRA’s creators, shed light on the depths of the deception, casting long shadows over the integrity of memecoins and their creators. As regulatory scrutiny tightens, the LIBRA debacle serves as a cautionary tale for crypto investors worldwide. It underscores the pressing need for vigilance and transparency within the burgeoning cryptocurrency markets to safeguard against similar fraudulence and restore investor confidence. Don’t get left behind in the crypto world—is keeping pace with the latest developments your priority? Subscribe to our email alerts to know every headline that matters and stay one step ahead. Join our community on X, Facebook, and Telegram for real-time updates and insights from leading crypto analysts. Stay informed, stay secure, and navigate your investment journey wisely.