Market Data 
The most recent cryptocurrency project to be embroiled in controversy, $LIBRA, is reportedly being controlled by the same team behind the $MELANIA crypto project, associated with the US First Lady.
Bubblemaps: $LIBRA’s Rug Pull and Connections with $MELANIA
Blockchain data analysis platform Bubblemaps published an article stating that after analyzing cross-chain transfers and time patterns, it is highly probable that $LIBRA is being controlled by the same team responsible for $MELANIA.
1/ How $LIBRA was created by the same team behind MELANIA and other short-lived coins
Featuring new onchain evidence
A thread with Coffeezilla 🧵 ↓ pic.twitter.com/gNwj97KapF
— Bubblemaps (@bubblemaps) February 17, 2025
According to Bubblemaps’ findings, the P5tb4 address, which earned over $2.4 million from $LIBRA, allegedly transferred all profits to the 0xcEA wallet, which is linked to the creator of $MELANIA. The platform further stated, “There are multiple ways to connect 0xcEA with the creator of MELANIA, through funding transactions and cross-chain transfers. We’re confident these aren’t coincidental.”
This points to a higher likelihood that the creator of $MELANIA—or someone from their team—invested in the launch of $LIBRA. Bubblemaps also revealed that, a few weeks later, the 0xcEA wallet funded DEfcyK, the creator of $LIBRA. The wallet also made $6 million in profits from multiple CCTP-funded sidechain addresses. In addition, several token launches linked to 0xcEA were found to be clear pump-and-dump scams, including TRUST, KACY, VIBES, and even HOOD.
President Javier Milei Faces Backlash Over $LIBRA Promotion
Earlier reports revealed that $LIBRA was promoted by Argentine President Javier Milei, who shared a ‘Google form’ link directing users to the website vivalalibertadproject.com, echoing his signature slogan, “Viva la libertad.” After public backlash, Milei deleted the post, and the President’s office later clarified that it was removed to avoid further speculation and exposure amid the project’s negative reception.
As a result, fraud charges were filed against Milei in criminal court, due to his promotion of the cryptocurrency, which led to significant losses for investors. Following Milei’s promotional tweet, $LIBRA’s market cap soared to $4.6 billion. However, insiders quickly drained $87.4 million within three hours of the launch, according to data from Bubblemaps. At $LIBRA’s all-time high, several large holders liquidated millions of dollars in minutes, with some making over $4 million each before the market even caught on.
