Hayden Davis, one of many creators of the LIBRA token that prompted a political scandal in Argentina, remains to be cashing out hundreds of thousands from his high-profile memecoin launches, in accordance with a outstanding crypto analyst.
On April 4, crypto rip-off investigator Dethective caught Davis cashing out $1 million in earnings from the launch of Melania Trump’s MELANIA memecoin. In accordance with Dethective, the funds, made up of USDT and USDC, had been despatched to the MEXC, Bitfinex, and Kraken crypto exchanges.
A day later, Dethective observed Davis cashing out one other $500,000 in Melania token earnings.
Melania wallets as soon as managed billions. Now they maintain simply ~$150M
Need to know what occurred? This thread breaks all of it down:• How Hayden Davis is slowly cashing out earnings• The DeFi technique he’s utilizing to do it• The 50+ new Kelsier addresses I discovered
Let’s dive in.… pic.twitter.com/hBGQZm7lhj
— dethective (@dethective) April 4, 2025
Dethective has tracked suspicious exercise from varied Davis-linked wallets, together with using MELANIA earnings to brief bitcoin (BTC) and making one other $2.5 million via swapping MELANIA tokens.
MELANIA insider wallets used to regulate over $3.8 billion, however now that determine stands at simply over $150 million. Moreover, Dethective notes that the MELANIA group wallets are additionally sending funds to the Meteora liquidity pool and are subsequently farming its group token, MET.
Final March, Dethective claimed that Davis had “shamelessly” cashed out over $1.6 million in stolen funds from the LIBRA token and different crypto initiatives. On March 27, the researcher additionally famous {that a} pockets behind the funding of quite a lot of LIBRA snipers determined to maneuver $55,000 to coinbase.
Argentina investigating Hayden Davis and LIBRA
One other class-action lawsuit is reportedly going to be filed within the US, accusing Argentinian President Javier Milei of inflicting $250 million price of investor losses via 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 Trade Fee (SEC), claiming it is likely to be defending the pursuits of President Donald Trump via its regulatory shielding of memecoins launched by himself and his spouse.
Protos has reached out to Dethective for remark and can replace this piece ought to we hear again.
