Crypto consultants at Bubblemaps have not too long ago said their suspicion that the event group behind the Official Melania Meme ($MELANIA) coin could have sniped it (used automated instruments to immediately purchase new tokens once they launch to flip them for revenue).
The analysts point at the blockchain activity of a Solana pockets tackle they known as ‘0xcEA.’ Nameless buyers capitalized on Melania Trump’s new crypto launch on January 19 and bagged $2.4M.
They then transferred the funds to a different pockets on Avalanche and distributed them throughout a number of Solana wallets via a number of cross-chain transfers. This reveals an effort to cover the transaction historical past.
The Hyperlink Between $MELANIA Coin and $LIBRA Crypto Rip-off
In line with Bubblemaps analysts, the 0xcEA pockets can also be linked to a different infamous crypto fiasco, Libra ($LIBRA), which occurred on February 15.
The modus operandi was nearly an identical. The investor(s) cashed in roughly $6M, then moved the funds via a number of wallets between Arbitrum and Avalanche.
This led the analyst group to conclude that the 2 occasions have been sniped by the identical actors. Furthermore, the consensus is that the investor is both a member of the event group behind $LIBRA or somebody intently related to them.
Bubblemaps representatives additionally said that the identical actor is behind a handful of different pump-and-dump tasks.
The official $MELANIA coin surged to $13B inside 4 hours of its launch and misplaced 99% of its worth over the course of the next eight hours.
The Official Trump ($TRUMP) token suffered an identical destiny with 38% of its worth being worn out in simply 40 minutes.
The Presidential Crypto Rip-off Pattern
The case of $TRUMP and $MELANIA crypto failures shouldn’t be singular, as there are a number of different examples of presidentially supported cash crashing in a single day.
Javier Milei’s $LIBRA Controversy
Javier Milei, the president of Argentina, found himself in hot waters after selling $LIBRA on his X account.
On the time that Milei endorsed $LIBRA, many of the venture’s tokens have been held in a handful of digital wallets. The token itself had been created merely minutes earlier than Milei’s X endorsement.
In line with analysts, a number of buyers cashed in over $4M, with one investor making as much as $87M in earnings within the hours earlier than $LIBRA crashed.
Following the fiasco, Milei apologized for endorsing the failed venture and deleted his X submit. Nonetheless, a number of Argentinian attorneys have filed criminal fraud charges in opposition to the president, accusing him of rug-pull and ‘illicit affiliation to commit fraud.’
Central African Republic’s President Launches Suspicious Nationwide Meme Coin
President Faustin-Archange Touadera introduced the discharge of the Central African Republic Meme ($CAR) token in an X post on February 9.
The announcement was instantly met with skepticism for a number of causes. The primary one is that deepfake detection instruments instantly flagged the president’s video as suspicious, but some customers argued that AI verification platforms are unreliable.
The second, and most essential one, is that the $CAR token lost 60% of its value shortly after reaching its $900M market cap. The state of affairs doesn’t look significantly better as we speak.
These circumstances present that counting on high-profile figures to tell your funding methods isn’t the wisest selection. However there are methods to search out dependable meme cash and decrease the danger of shedding your funding.
Greatest Pockets ($BEST) Filters Out Suspicious Tasks
Greatest Pockets ($BEST) is a non-custodial platform that gives customers with full management over their pockets safety and asset administration. $BEST holders take pleasure in decrease transaction charges and early entry to one of the best presales.
As a substitute of browsing the online within the search of recent meme cash on presale, now you can discover and purchase vetted tasks in Greatest Pockets’s Upcoming Tokens part.
On high of that, Greatest Pockets helps you to declare tokens immediately out of your account as a substitute of visiting the venture’s web site.
The platform’s Greatest DEX decentralized change permits for swift cross-chain transactions and solely lists verified crypto tasks and one of the best altcoins.
The $BEST token at the moment prices $0.024025, and the presale has collected over $10M in funding. Buyers obtain dynamic staking of as much as 162% APY rewards primarily based on the variety of stakers.
Greatest Pockets Protects Buyers From Potential Scams Just like the $MELANIA Coin
Celebrities endorsing suspicious crypto projects or outright scams is nothing new, however there are methods to keep away from these pitfalls.
Platforms like Greatest Pockets ($BEST) supply a safe ecosystem so that you can diversify your portfolio and handle your property safely.
$BEST holders may use the Neighborhood Governance function to vote on proposed options for the Greatest Pockets ecosystem.
This makes Greatest Pockets a community-driven platform with a powerful basis and user-oriented philosophy.
As all the time, you need to DYOR (Do Your Personal Analysis) earlier than investing. The crypto market stays unstable and dangerous.