Meteora and Jupiter Hit Hard by 'LIBRA' Incident: Co-founder Resigns, Token Price Plummets

The aftermath of the LIBRA incident, involving insider trading and rug pulls, still lingers. A co-founder of the decentralized exchange (DEX) Meteora has resigned due to the LIBRA-related incident.

On the 18th, Meteora's co-founder 'meow' announced via X (Twitter) that "Ben, Meteora's co-founder, has decided to resign in connection with the recent incident." While stating that "neither Jupiter (JUP) nor anyone at Meteora engaged in insider trading or misconduct," he explained that "Ben's recent actions had some inappropriate aspects," citing this as the reason for resignation.

However, investors seem reluctant to accept meow's claims.

One X user commented on meow's tweet, questioning "how a Jupiter employee using the address 'doodoo' managed to snipe three tokens launched by Kelsier Capital (the development company behind LIBRA's launch)."

The user further emphasized that "a detailed explanation is needed on how the Jupiter employee obtained inside information."

Meanwhile, as community-centered allegations of Jupiter's involvement in insider trading emerged, Jupiter's token price has plummeted. As of 2:41 PM today, Jupiter is trading at $0.7369 on CoinMarketCap, down 12.12% compared to the previous day.