On-Chain Data Reveals the Dark Truth Behind $LIBRA's Birth: A Carefully Orchestrated Series of Pump-and-Dump Schemes
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On-Chain Data Reveals the Dark Truth Behind $LIBRA's Birth: A Carefully Orchestrated Series of Pump-and-Dump Schemes
We see a clear pattern: greed.
Navigating Web3 tides with focused insightsAuthor: Bubblemaps
Translation: TechFlow
$LIBRA was created by the same team behind MELANIA and other short-lived tokens. This article reveals the truth behind the events with new on-chain evidence.
(Original image from Bubblemaps, translated by TechFlow)
For a long time, there has been speculation that MELANIA and LIBRA might be controlled by the same team, but direct evidence has always been lacking—until now.
By analyzing fund flows and timing patterns across cross-chain transfers, we can now confirm with near certainty that these two are indeed closely linked.
It all began with our deep investigation into "sniper activity" within the MELANIA project.
One address caught our attention: P5tb4. This address accumulated over $2.4 million in profits through coordinated actions.
More notably, this address transferred all its profits to 0xcEA, a wallet address we have confirmed is associated with the creator of MELANIA.
This transfer was executed via the USDC Cross-Chain Transfer Protocol (CCTP), which enables rapid movement of funds across different blockchains.
Through analysis of funding transactions and cross-chain movements, we found a direct link between 0xcEA and the creator of MELANIA.
We are confident these connections are no coincidence.
This indicates that either the creator of MELANIA—or someone closely tied to their team—used insider information to snipe their own token launch at inception.
We continued monitoring this address’s activity. Weeks later, we discovered that 0xcEA funded DEfcyK, who is precisely the creator of $LIBRA.
Yes, the same individual who cashed out $87 million from $LIBRA.
Even more shockingly, 0xcEA also deployed multiple associated addresses to sniper $LIBRA, with funding again originating through the USDC Cross-Chain Transfer Protocol (CCTP). Ultimately, they profited $6 million from $LIBRA.
This operational pattern is identical to what was seen in the MELANIA case.
(Original image from Bubblemaps, translated by TechFlow)
But it doesn’t end here. We’ve also uncovered numerous token launches linked to 0xcEA, most of which were used for "pump and dump" schemes. Below are some of these tokens:
TRUST, KACY, $VIBES, and $HOOD.
From today's analysis, a clear pattern emerges: greed.
The creators behind MELANIA and LIBRA not only extracted value through token launches but also used insider knowledge to front-run these very launches for massive profit.
In the case of $LIBRA alone, their profits exceeded $100 million.
Finally, we must ask a key question: Who is the mastermind behind these tokens? Is it KIP Protocol, Kelsier Ventures, or Hayden Davis?
Want to know the answer? Watch Coffeezilla’s latest video.
(Original image from Bubblemaps, translated by TechFlow)
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