Blockchain analytics platform Bubblemaps on Sunday alleged a potential link between the teams behind the Official Melania (CRYPTO: MELANIA) meme coin and Argentine President Javier Milei-promoted LIBRA token, providing evidence of insider trading and manipulation.
What Happened: After a detailed analysis done in partnership with on-chain detective Stephen Findeisen, better known as Coffeezilla, Bubblemaps appeared “highly confident” that the creators of the two coins might be the same.
The investigation started with the tracking of sniper activity on MELANIA, which revealed a transfer of $2.4 million in sniped profits to a wallet linked to the creator of MELANIA.
Token sniping is a trading strategy that targets new token launches. It involves using automated trading bots to execute rapid transactions, gaining a competitive edge by acting faster than other market participants.
Further tracking revealed that …
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