Libra, Melania Creator’s Melania Creator’s Melania Creator’s Melania Creator’s 99%
The creator of the Libra token (Libra) launched another Memecoin with some of the same about onchain patterns that point to significant insider trading activity before the collapse of 99% of the coin.
Hayden Davis, the co-creator of Official Melania Meme (Melania) And the Libra token, has launched a new Solana -based Memecoin, with more than 80% insider supply.
Davis launched the memecoin of the Wolf (Wolf) on March 8, the banking of the rumors of Jordan Belfort, known as The Wolf of Wall Street, which launches his own token.
The token reaches a peak of $ 42 million market cap, however, 82% of the wolf token supply is that -Bundle under the same creature, according to a post of March 15 x’s Bubblemapswho wrote:
“The bubble map revealed something strange – $ Wolf has the same pattern as the $ hood, a token launched by Hayden Davis. Is he behind too?”
Source: Bubblemaps
The Blockchain Analytics platform revealed transfers throughout 17 different addresses to meet Davis’ Oxceae ‘Oxceae’.
“He funded the dominates this month before launching $ Libra and $ Wolf, moving money by 17 addresses and 2 chains,” Bubblemaps added.
Source: Bubblemaps
Wolf Memecoin lost more than 99% of its value in two days, from the peak of $ 42.9 million market capitalization on March 8 and 4:00 am UTC, up to $ 570,000 at the time of press, DEXSCREENER Data displays.
Wolf/sol, market cap, 1-hour chart. Source: DEXSCREENER
Davies’ latest token launch came Sunday after the collapse of the Libra token where eight insider wallets cashed out $ 107 million in liquidityleading to a $ 4 billion market cap wipeout in a few hours.
Libra token became a political issue, with Argentinian president Javier Milei risk impeachment After his endorsement of the Libra coin.
Argentine lawyer Gregorio Dalbon requests a Interpol red notice To be released for Davis mentioning a “risk risk” if Davis remained free because he could have access to the broad amount of money that would allow him to flee to the US or hide.
Related: The mile adopted by Libra token is ‘Open Secret’ in Memecoin Circles-Jupiter
Memecoins become “retail taking tools”
Memecoins turns against the basic ethos of crypto decentralization, which is increasingly used to exploit retail investors amid the increasing number of rug pullings, according to Anastasija Plotnikova, co-founder and CEO of blockchain regulatory firm Fideum.
“Memecoins have changed from community -driven social experiments to a chaotic landscape managed by taking value from retail investors,” Plotnikova told cointelegraph, increasing:
“Insider rings, pump-and-dump schemes, and sniper groups have replaced the organic, collected nature of original memecoins, creating an unhealthy field of play.”
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Investors between memecoins also need to be identified as truly “collectib” and “clearly fraudulent activities” such as rug pulls that are “not only unethical but also clearly illegal, with a law case to support implementation.”
“In my view, these activities should fall firmly within the jurisdiction of law enforcement agencies,” he added.
U.S. regulators are increasingly aware of the growing memecoin scams.
A New York Lawmaker A bill was introduced to establish criminal penalties specifically aimed at preventing cryptocurrency fraud and protecting investors from rug pulls, Cointelegraph reported on March 6.
Under the proposal, new criminal charges will be created for offenses involving “Virtual token Fraud,” clearly targets fraudulent skills associated with cryptocurrencies.
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