Wallets Tied To Libra Scandal Pull $4m And Bet Big On Solana

Wallets tied to the Libra memecoin scandal continue to draw liquidity and have purchased $61.5 million in Solana, despite asset freezes and fraud probes.

Wallet addresses tied to the controversial Libra (LIBRA) token are still pulling money from the failed memecoin and rotating it into other cryptocurrencies despite asset freezes and ongoing fraud investigations.

The wallets associated with the Libra token — which was controversially endorsed by Argentine President Javier Milei — have withdrawn nearly $4 million in liquidity from the memecoin to buy the Solana (SOL) dip.

After the withdrawal, two cryptocurrency wallets associated with the Libra team acquired $61.5 million worth of SOL at an average price of $135, according to blockchain data platform Onchain Lens.

The Solana purchases were made through two addresses identified by blockchain intelligence firm Nansen: “Defcy,” labeled as “Libra Deployer,” and “61yKS,” labeled as “Libra: Wallet.”

Before the $4 million withdrawal, the Libra Deployer wallet held an additional $13 million in USDC (USDC), while Libra Wallet ‘61yKS’ held $44 million in USDC on Monday, before the funds were used to buy SOL.

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During the collapse of the Libra token, eight insider wallets cashed out $107 million in liquidity, resulting in a $4 billion market cap wipeout within hours.

Argentine lawyer Gregorio Dalbon has asked for an Interpol Red Notice to be issued for Libra creator Hayden Davis, citing a “procedural risk” if Davis remained free, as he could have access to vast amounts of money that would allow him to either flee the US.

Related: Smart money still hunting for memecoins despite end of ‘supercycle’

Source: CoinTelegraph