TechFlow reports that on February 15, according to Bubblemaps, the development team behind LIBRA, a meme token allegedly issued by Argentina's president, is suspected of cashing out approximately $87 million by withdrawing USDC and SOL from liquidity pools.
On-chain data shows the team created a single-sided liquidity pool containing only LIBRA on Meteora while simultaneously withdrawing USDC and SOL. As a result, the LIBRA token price has dropped by 85%.
On-chain analysis reveals that 82% of LIBRA tokens are concentrated within a single wallet cluster, and the project team has not disclosed its tokenomics model. Bubblemaps estimates the team still holds around $500 million worth of tokens eligible for cash-out.
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