The ongoing LIBRA crisis in Argentina has deepened with new revelations.
Blockchain analysis has uncovered direct connections between the LIBRA token and MELANIA token, a meme coin launched under the name of U.S. President Donald Trump’s wife. Reports indicate that both tokens are managed by the same team, with significant insider trading detected.
On-chain data shows that a wallet linked to MELANIA token’s creator purchased a large amount of tokens early on, generating millions in profits. These funds were later transferred to the main developer wallet of LIBRA. The team allegedly moved assets across multiple blockchains to obscure their tracks.
Further research suggests that four other tokens TRUST, KACY, VIBES, and HOOD may also be controlled by the same group. In addition to the $87 million in insider sales identified within the LIBRA project, similar manipulative practices are suspected with MELANIA token.
These findings have intensified concerns that the LIBRA scandal could be part of a larger, global-scale fraud operation. As Argentina's impeachment proceedings against President Milei continue, these new links could increase the pressure on him.
Renowned YouTuber and crypto fraud investigator CoffeeZilla has also taken an interest in the case. After reviewing the blockchain data, he confirmed contact with LIBRA project advisors and announced that he is actively investigating the deeper connections behind the scandal.
In the coming days, further legal developments related to the LIBRA scandal are expected. While the Argentine government has already launched an official investigation, these new findings could significantly impact how the case unfolds.
