On-chain data reveals the dark origins of $LIBRA: a meticulously planned series of schemes to harvest investors

Author: Bubblemaps

Compiled by: Shenchao TechFlow

$LIBRA was created by the same team that launched MELANIA and other short-lived tokens. This article will reveal the truth behind the events through new on-chain evidence.

(Original image from Bubblemaps, compiled by Shenchao TechFlow)

For a long time, there has been speculation that MELANIA and LIBRA may be manipulated by the same team, but there has always been a lack of direct evidence—until now.

By analyzing the flow of funds and timing patterns of cross-chain transfers, we can almost confirm that there is indeed a close connection between the two.

It all started with our in-depth investigation into the "sniper activity" in the MELANIA project.

One address caught our attention: P5tb4. This address accumulated profits of over $2.4 million through related operations.

More concerning is that this address transferred all profits to 0xcEA, a wallet address we confirmed to be associated with the MELANIA creator.

This transfer was completed via the USDC Cross-Chain Transfer Protocol (CCTP), which allows for quick transfers of funds between different blockchains.

Through the analysis of on-chain funding transactions and cross-chain transfers, we found a direct connection between 0xcEA and the creator of MELANIA.

We are confident that these connections are no coincidence.

This indicates that the creator of MELANIA, or someone closely related to their team, used insider information to snipe their own token issuance at the project's launch.

We continued to monitor the activities of this address. Weeks later, we found that 0xcEA provided funding to DEfcyK, who is the creator of $LIBRA.

Yes, that’s the same creator who cashed out $87 million through $LIBRA.

Even more shocking, 0xcEA also sniped $LIBRA through multiple associated addresses, which were also funded via the USDC Cross-Chain Transfer Protocol (CCTP). Ultimately, they profited $6 million from $LIBRA.

This operational method is strikingly similar to the MELANIA case.

(Original image from Bubblemaps, compiled by Shenchao TechFlow)

But the story doesn’t end here. We also discovered many token issuances related to 0xcEA, most of which were used for "pump and dump" operations. Here are some of those tokens:

TRUST, KACY, $VIBES, and $HOOD.

From today’s analysis, we see a clear pattern: greed.

The creators of MELANIA and LIBRA not only extracted value through token issuance but also used insider information to snipe these tokens for huge profits.

From just $LIBRA, their profits exceeded $100 million.

Finally, we must pose a key question: who exactly is behind the manipulation of these tokens? Is it KIP Protocol, Kelsier Ventures, or Hayden Davis?

Want to know the answer? Please follow Coffeezilla's latest video.

(Original image from Bubblemaps, compiled by Shenchao TechFlow)