Blockchain Investigation Links Libra and Melania Memecoins to Single Entity

Blockchain analysts at Bubblemaps have uncovered evidence suggesting the same entity is behind both the Libra and Melania memecoin projects. Wallet activities indicate that the creator of the Melania token also engaged in transactions with the Libra token, profiting from both.

Libra gained attention after Argentina’s President Javier Milei endorsed it, causing a price surge followed by a collapse. Insiders reportedly withdrew $107 million in trading fees and liquidity pool funds. Similarly, Melania memecoin, endorsed by former U.S. First Lady Melania Trump, saw its value rise sharply before crashing in January.

Bubblemaps identified a Solana wallet, “P5tb4,” which accumulated $2.4 million from Melania token activities, transferring funds to an Avalanche-based EVM wallet, “0xcEA.” This wallet, linked to the Melania token creator, funded “DEfcyK,” the primary creator wallet for Libra. The connection has fueled speculation that the same entity controls Libra, Melania, and other tokens like TRUST, KACY, VIBES, and HOOD.

President Milei now faces fraud charges but denies involvement in Libra’s operations. Bubblemaps, collaborating with analysts and Youtuber CoffeeZilla, continues to investigate, with insights from Libra advisor Hayden Davis.