Key takeout
- Libra Insiders are said to have washed $2.7 million through the Pope Meme Coin inside the DOJ probe.
- The Melania Token experienced a rapid rise and fall in market value after launch.
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Today, Blockchain analytics firm Lookonchain revealed that Klibra and Melania Insiders allegedly laundered the funds through a suspicious Meme Coin transaction.
that's right $ libra $ Melania Insider Team is washing up funds.
They spent 19,846 $ sol($2.76 million) I bought MemeCoin (Pope) with a market capitalization of less than $150,000 and sold for 175 $ sol($24K), lose $2.73 million!
That $273 million was effectively injected into other wallets “legal”… pic.twitter.com/acdc0edcjx
– lookonchain (@lookonchain) February 26, 2025
The analysis shows that insiders spent $2.76 million on Solana (SOL) to buy the Pope token and sold it for $24,000, resulting in a loss of $2.73 million.
This comes as the US Department of Justice investigates the creation and collapse of Libra tokens. La Nacion.
The investigation considers potential economic crimes, including fraud and market manipulation, following criminal charges filed by an Argentine law firm with US authorities.
Key figures under investigation include Argentine President Javier Mailey. Javier Mairi's social media Libra approval preceded the price surge and subsequent collapse.
Libra founders Hayden Davis and Julian Peh are also under scrutiny along with Mauricio Novelli, Manuel Terrones Godoy and Sergio Daniel Morales.
Soon after its release, on February 14th, Libra's market capitalization temporarily exceeded $4 billion before it collapsed, with investors estimated losses between $87 million and $107 million.
Insiders are said to have withdrawn millions with trading fees and liquidity pool funds.
Melania, a token approved by former US first lady Melania Trump and released on January 19, 2025, reached $4 billion in market capitalization within 30 minutes of its release.
Tokens built on the Solana blockchain have since dropped by more than $1.4 from the initial price, from $13.7.
February 16th, a Report It exposed a complex network that manipulates the market for Libra and Melania memecoin, including influential figures and organized insider strategies.
The next day, on February 17th, Argentine President Javier Miley faced it. scam The charges related to Libra Meme Coin Scandal had a serious impact on traders after his support.
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