Crypto investigators have flagged suspicious transactions linked to wallets related to MELANIA and LIBRA memecoins. Blockchain knowledge exhibits that these wallets moved giant sums of cash, elevating issues about potential cash laundering.
Round 19,846 SOL, value about $2.76 million, was used to buy the POPE memecoin. Nonetheless, the tokens had been later offered for simply 175 SOL, or roughly $24,000.
This uncommon buying and selling sample means that funds might have been funneled by means of totally different wallets in an try to obscure their origins.
Crypto Wash Buying and selling Or Coordinated Dump?
The transaction historical past raises a number of questions. Giant buys adopted by rapid sell-offs at a loss are widespread indicators of wash buying and selling. Some speculate that the wallets had been concerned in a scheme to maneuver funds discreetly.
US First Girl Melania Trump. Supply: The White Home/BBC.
Others consider it might have been an orchestrated try to dump giant quantities of POPE tokens with out spooking the market. Regardless of the case, the fast lack of thousands and thousands has drawn consideration to the dangers of politically linked memecoins.
Plainly the $LIBRA and $MELANIA insider staff is laundering funds.
They spent 19,846 $SOL($2.76M) to purchase a memecoin(POPE) with a market cap of lower than $150K, and offered it for 175 $SOL($24K), dropping $2.73M!
That $2.73M was successfully funneled to different wallets in a “authorized”… pic.twitter.com/ACDC0EDcjx
— Lookonchain (@lookonchain) February 26, 2025
Soiled Cash In Motion
Giant transactions for MELANIA and LIBRA confirmed an immense spike on-chain; $100,000+ trades surged by 400% and 350%, respectively. The rise in commerce quantity factors to traders shifting their belongings in response to suspicions about cash laundering.
Utilizing liquidity withdrawals and sniper buying and selling, blockchain firm Bubblemaps found the identical staff behind each cash remodeled $100 million. The group additionally related itself to pump-and- dump techniques together with TRUST, VIBES, and Kacy. Allegedly incomes $6 million from LIBRA, OxcEA utilized a number of wallets to cowl transactions.
BTCUSD buying and selling at $86,315 on the day by day chart: TradingView.com
Political Figures And Meme Coin Controversies
Memecoins tied to public figures comparable to US First Girl Melania Trump, have sparked scandals earlier than. Argentine President Javier Milei is beneath scrutiny for selling LIBRA, which noticed a meteoric rise and fall. Many traders misplaced cash, resulting in fraud allegations.
In the meantime, with round 700 copycats in the marketplace, US President Donald Trump’s identify has been exploited for a number of meme tokens. These incidents spotlight how political affiliations might generate monetary beneficial properties for traders. Many of those clone tokens are actually nugatory, displaying how dangerous these politically charged cryptos might be.
The Want For Warning In The Crypto Market
Meme currencies are infamous for his or her risky character. They’re simple to control. Linking a coin to a widely known identify can draw speculators hoping for quick riches. However as MELANIA and LIBRA wallets present, lack of management makes them simple goal for abuse and, sure, quick buck.
Traders in cryptocurrencies must be cautious of cash with unknown backing and search for indications of wierd buying and selling conduct. Authorities may also must tighten guidelines to be able to cease any monetary crimes within the crypto discipline. However, then, that’s simpler stated than achieved.
Featured picture from Gemini Imagen, chart from TradingView