- According to Bubble Map, LIBRA and MELANIA meme coins are suspected to have been developed by the same team.
- It was reported that developer-related addresses made significant profits from sniping LIBRA meme coin.
- LIBRA initially surged but experienced a dramatic value drop due to a rug pull.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
Last weekend, claims emerged that the controversial Argentine meme coin LIBRA was developed by the same team behind another controversial meme coin MELANIA.
On the 17th, crypto data platform and audit tool Bubble Map announced via X (Twitter) that "LIBRA and MELANIA are suspected to have been developed by the same team."
Specifically, Bubble Map's analysis of cross-chain transactions and patterns between LIBRA and MELANIA tokens revealed that an address (starting with P5tb4) that made $2.4 million in profits from sniping MELANIA sent the profits to a developer-related address (0xcEA). Furthermore, this address was found to be funding the LIBRA developer address and had made approximately $6 million in profits from LIBRA sniping.
Early Sunday morning, the LIBRA meme coin surged to $5 immediately after launch, boosted by promotion from Argentine President Javier Milei. However, a rug pull (a scam where project managers suddenly withdraw all funds after collecting investments and disappear) occurred, resulting in a 95% crash in token value within about an hour.
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