Hayden Davis still making millions from LIBRA, MELANIA memecoins
Hayden Davis, one of the creators of the LIBRA token that caused a political scandal in Argentina, is still cashing out millions from his high-profile memecoin launches, according to a prominent crypto analyst.
On April 4, crypto scam investigator Dethective claimed to have caught Davis cashing out $1 million in profits from the launch of Melania Trump’s MELANIA memecoin. According to Dethective, the funds, made up of USDT and USDC, were sent to the MEXC, Bitfinex, and Kraken crypto exchanges.
A day later, Dethective noticed Davis cashing out another $500,000 in Melania token profits. However, Dethective told Protos that while Davis is likely taking profits, it’s ultimately unknown if the crypto is being cashed out, as “once the money entered in a Centralized exchange, it’s a black-box.”
Read more: Javier Milei disapproval rate hits 60% in Argentina after LIBRA scandal
Dethective has tracked suspicious activity from various Davis-linked wallets, including the use of MELANIA profits to short bitcoin (BTC) and making another $2.5 million through swapping MELANIA tokens.
Dethective told Protos that he’s tracking Davis’ wallets, “because he got away with zero consequences and everybody is simply forgetting about everything.”
MELANIA insider wallets used to control over $3.8 billion, but now that figure stands at just over $150 million. Furthermore, Dethective notes that the MELANIA community wallets are also sending funds to the Meteora liquidity pool and are subsequently farming its community token, MET.
Read more: Lawyer wants Hayden Davis arrested, says Milei’s sister is LIBRA “mastermind”
Last March, Dethective previously claimed Davis had “shamelessly” cashed out over $1.6 million in stolen funds from the LIBRA token and other crypto projects. On March 27, the researcher also noted that a wallet behind the funding of a number of LIBRA snipers decided to move $55,000 to coinbase.
Argentina investigating Hayden Davis and LIBRA
Argentinian news outlet Pagina 12 reports that $4.2 million from LIBRA team wallets was moved into another wallet two days before a federal court ordered a wider investigation. Pagina 12 also reports that Argentina’s Office of the Attorney General for Administrative Investigations is conducting a “technical audit” into LIBRA’s smart contract.
Another class-action lawsuit is reportedly going to be filed in the US, accusing Argentinian President Javier Milei of causing $250 million worth of investor losses through his promotion of LIBRA.
Davis admitted to sniping the MELANIA and LIBRA memecoins in an interview with Coffeezilla. US Senator Elizabeth Warren is now calling for a probe into the Securities and Exchange Commission (SEC), claiming it might be protecting the interests of President Donald Trump through its regulatory shielding of memecoins launched by himself and his wife.
Update April 8, 09:14 UTC: Included a statement from Dethective clarifying the likelihood of Davis cashing out his funds through a centralized exchange.
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