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 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.
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.
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 claimed that 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.
Protos has reached out to Dethective for comment and will update this piece should we hear back.
