With Trump's success, Argentina's Bitcoinist president, Javier Milei, has also made an unsuccessful attempt to enter the memecoin race with the LIBRA token, which collapsed after reaching above a 4 billion market cap in a short time, and now Cryptoverse is furious.

Pump-Dump due to insider trading

     Questions have arisen regarding LIBRA's insider trading. Various findings suggest that insider traders withdrew funds from centralised exchanges (CEXs) shortly before the president's tweet and bought LIBRA in the first seconds of the tweet's publication and dumped all LIBRA when the market rose.

     EmberCN has found 3 such wallets; Lookonchain has found 11 wallets. The number of such wallets may be even more than this.

Cryptoverse unrest with LIBRA scam

     The KIP Protocol team, which developed LIBRA, is trying to save its face. Javier Milei is also being accused of the scam. French blockchain data analyst Bubblemaps claims that instead of selling LIBRA in the market, the developers were only adding one-sided liquidity pools on Meteora while removing USDC and SOL. This claim of BubbleMaps sets LIBRA to be a deliberate scam.

     Analysts and experts are performing their research. My research with caughts may be beginning. DYOR. And don't fall for Memecoin greed, even if the President or Bitcoinist launches it. 

Originally published on Wubits as Thread