Michaela
Hayden Davis, the creator behind the controversial Libra (LIBRA) token, has reportedly introduced a new meme coin, exhibiting similar blockchain patterns that previously signaled potential insider trading before the new coin’s dramatic crash. According to blockchain analytics platform Bubblemaps, the new Solana-based meme coin is called Wolf (WOLF).
Reports indicate that Davis created the token amid speculation that Jordan Belfort, the former stockbroker known as the Wolf of Wall Street, was planning to launch his own cryptocurrency.
In an X thread, Bubblemaps revealed that the co-creator of the Official Melania (MELANIA) meme coin launched WOLF on March 8, with the token surging to a peak market cap of $42 million. Bubblemaps also reported that 82% of the WOLF token supply was concentrated under a single entity, raising concerns of potential insider trading.
“The bubble map revealed something strange — $WOLF had the same pattern as $HOOD, a token launched by Hayden Davis. Was he behind this one too?” the analytics platform wrote.
Bubblemaps identified transactions across 17 different addresses, all tracing back to the “OxcEAe” wallet, which is linked to Davis. Within two days, WOLF lost over 99% of its value.
“Why would Hayden do this? Maybe he thought no one would trace it back to him. He funded these wallets months before $LIBRA and $WOLF launched, moving money through 17 addresses and 2 chains,” the analytics platform added.
This development of alleged insider trading comes as Argentine lawyer Gregorio Dalbon seeks Interpol’s help in locating and arresting Davis, requesting a Red Notice for the LIBRA creator.
The case against Davis is rooted in allegations that he was a key figure in the creation and promotion of LIBRA, with claims that his involvement led to significant investor losses. Dalbon emphasized the “scale of the scandal” in his petition, stressing the importance of holding Davis accountable.
The collapse of the LIBRA token also sparked political controversy in Argentina, placing President Javier Milei under scrutiny. His endorsement of the meme coin led to growing calls for impeachment, with critics arguing that his public support may have influenced investors and contributed to financial losses.
Read More
- DOJ to Investigate President Javier Milei Over LIBRA Token Fraud Ties
- LIBRA Co-Creator Paid Argentina President’s Sister for Support – Claims
- Buterin Endorses Argentina’s Booming Crypto Scene Amid LIBRA Fallout
Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
