TechFlow reports on February 17 that blockchain analytics firm Bubblemaps has determined, through analysis of cross-chain transfer records and timing patterns, that the controversial recent project Libra is operated by the same team behind the previous Melania token.
On-chain data shows that address 0xcEA was not only involved in the creation of the Melania token but also provided funding for DEfcyK, the creator of the Libra token. This address executed "front-running" trades on Libra via multiple connected wallets, profiting $6 million alone from these activities. Meanwhile, the Libra project team has withdrawn 87 million USDC and SOL from liquidity pools.
Bubblemaps further revealed that this group is also linked to several other suspected "rugged" pump-and-dump projects, including TRUST, KACY, VIBES, and HOOD tokens. The investigation is ongoing.
