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 coinβs 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.
βThe bubble map revealed something strange β $WOLF had the same pattern as $HOOD, a token launched by Hayden Davis. Was he behind this one too?β the analytics platform wrote.
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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.
βWhy 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 thrΠΎugh 17 addresses and 2 chains,β the anΠ°lytics 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.
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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 βscale of the scandalβ 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.
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MICHAELA
Michaela is a news writer focused on cryptocurrency and blockchain topics. She prioritizes rigorous research and accuracy to uncover interesting angles and ensure engaging reporting. A lifelong book lover, she applies her passion for reading to deeply explore the constantly evolving crypto world.
