News linked to both this project and an event.
Odaily reports: Regarding the previous LIBRA token scandal, as an Argentine judge dismissed the criminal investigation against Milei, the matter has come to a close. In response, Milei published a lengthy post on X lamenting: "Now who will compensate me for the lies, slander, and defamation I have suffered over the past year, eight months, and nine days—lies, slander, and defamation whose sole purpose was to tarnish my good name and honor?Justice has once again set things right, exposing that massive political and media operation whose only goal was to undermine the authority of the presidency for the purpose of a political coup.I celebrate the normal functioning of the institutions of the Republic, and a judicial system that has not been dragged down by the clownish performances of the usual operators.This lawsuit was politically exploited, not only by certain factions of the opposition, who thought they could overthrow us to restore their privileges, but also by other forces, such as the La Nación group and its henchmen, to extort the government in exchange for evading their tax obligations.To those paid journalists, mercenaries of lies, and people like Hugo Alconada Mon, Carlos Pagni, Paulino Rodríguez, Natalia Volosin, Novaresio, and all others who exploited this topic: now who is responsible for all the garbage you spread?The truth always prevails in the end. Long live freedom, damn it...!!!"
blockchain analytics platform Bubblemaps released an investigation report on the Solana Meme token LIBRA. On February 14, 2025, after Argentine President Javier Milei publicly supported the launch of LIBRA, the token's market cap briefly reached approximately $4 billion in less than two days before rapidly crashing, resulting in investor losses exceeding $250 million. The incident has been dubbed "Cryptogate."Bubblemaps stated that multiple abnormal signals emerged within the first hour of LIBRA's launch:82% of the token supply was concentrated in a single wallet cluster, a stark deviation from typical Meme token issuance patterns;No tokenomics information was provided, with no details on lock-ups, fund allocation, or roadmap disclosed;Abnormally high liquidity pool fees were generated, with over $25 million in fees accumulating within the first hour of trading, far exceeding normal retail trading levels.The investigation revealed that the deployer did not directly dump $LIBRA on the open market. Instead, they added a one-sided liquidity pool containing only $LIBRA on Meteora while simultaneously withdrawing USDC and SOL from the original pool, enabling low-slippage fund transfers. Bubblemaps noted that, by the time the public warning was issued, the team had already extracted approximately $87 million in assets through this mechanism. Subsequently, Bubblemaps discovered a financial link between LIBRA and another controversial token, $MELANIA. Through on-chain evidence such as cross-chain transfers and overlapping exchange deposit addresses, analytic firms suggest both projects may be operated by the same team, which has been traced back to Kelsier Ventures and its head, Hayden Davis.The report indicates that this team has subsequently been linked to multiple Meme token projects, including $HOOD, $TRUST, $KACY, and $VIBES. Their common pattern includes: holding a large concentration of tokens during the deployment phase, using multiple wallets to front-run purchases, rapidly inflating market cap, and then exiting to cash out.Bubblemaps stated that the uniqueness of the LIBRA incident lies not in its technical methods, but in securing the public endorsement of Javier Milei, which amplified a routine Meme token operation into a globally watched event. The firm believes that indicators such as wallet cluster analysis, supply concentration, and on-chain fund flows had already flashed risk signals early on, and it will continue to monitor related address activity in the future.