GuShiio.com In a few hours, he made more than 100 million yuan of gold.
author| Wu said blockchain
In the early morning of February 15, Beijing time, Argentine President MILEI, known for his liberalism, posted on his social media saying that he would issue LIBRA tokens for national financing.
According to GMGN data, a wallet fund came from KuCoin’s user address: Gr3eiF… RtS4eb spent US$900,000 to buy the token LIBRA issued by the Argentine President at an average price of $0.26,945, and sold it all at an average price of $2.9139. The position earned US$8.7 million in one hour, making it the address with the highest total profit currently.
However, LIBRA has continued to fall since reaching a high of $4.6 less than an hour after its launch. The average purchase price of Top100 holders is $1.6, and it has already suffered huge losses.
According to EmberCN monitoring, insider traders suspected of LIBRA, the Meme token issued by the Argentine President, made a profit of at least 20.18 million yuan through LIBRA. The address operates as follows: in the hours before the tweet was released, USDC and SOL were prepared through CEXs such as Binance, Bybit, Kucoin, etc.; in the first second after the Argentine President’s tweet was released; all were sold in batches after the market pulled up LIBRA. At least 3 addresses have consistent operations.
At noon on February 15, Beijing time, Argentine President Millay tweeted: A few hours ago, I posted a tweet, like countless times, supporting a private entrepreneurial project with which I obviously had no connection. I didn’t understand the details of the project at the time, but after a deeper understanding, I decided not to continue promoting it (so I deleted the tweet).
According to LookOnChain monitoring, eight wallets related to the LIBRA team obtained 57.6 million USDC and 249,671 SOLs (approximately US$49.7 million) by increasing liquidity, removing liquidity and charging fees, totaling approximately US$107 million.
KIP Protocol tweeted that it was the team behind the Argentine president’s issuance of coins. The Viva la Libertad project aims to help Argentine private companies, and the LIBRA token has also achieved certain success. To resolve unnecessary issues, we would like to clarify that this is a private enterprise project and President Millay was not involved in the development of the project, as he himself mentioned. This is a completely private enterprise project.
KIP Protocol’s official Twitter introduction stated that it is supported by Animoca Ventures and is also the official AI partner of Animoca’s Open Campus project. In 2024, KIP Protocol announced that it has completed US$5 million in private equity financing, led by Animoca Ventures and Tribe Capital. Other investors include GBV Capital, DWG Ventures, Morningstar Ventures, etc. Its official page shows that the team is mainly Chinese from the National University of Singapore.
CEO Julian Peh Bai Qihao’s personal LinkedIn shows that he studied at Raffles Junior College in Singapore in high school and studied at the National University of Singapore from 2000 to 2004 to obtain a bachelor’s degree in law.
https://www.linkedin.com/in/julianpeh/? originalSubdomain=sg
Animoca Brands tweeted that Animoca Brands invested in KIP Protocol with many other investors in February 2024, but Animoca Brands, Animoca Ventures, and Open Campus did not understand or participate in the release and development of the LIBRA token.
Chaofan Shou, co-founder of security company Fuzzland, tweeted that he and Solayer engineer Tony Kebot had lost more than US$2 million on LIBRA, with a picture showing the list of core members of the KIP Protocol team behind LIBRA, and a caption saying,”Let’s see what two hackers and a free weekend can bring us.” Julian, co-founder of KIP Protocol, responded to Chaofan Shou on social media by saying that LIBRA is not a rug project, and the large amount of support the project has received is enough to prove its legitimacy.”If this was a scam, we would not get the start-up support like this. Just because you lose money doesn’t mean it’s a rug.”
Julian, a co-founder of KIP Protocol, issued a preliminary response to the LIBRA project, saying that the Viva la Libertad project aims to promote Argentina’s economic development by providing funding for small projects and local businesses, and to support those who seek to expand their careers and contribute to the country’s development. Funds are still on the chain and no SOL has been transferred. The KIP team is involved in the project and is mainly responsible for managing the allocation of funds to Argentine companies, rather than tokens. There is no pre-sale of the token and all sales are made through a unilateral liquidity pool. The KIP team will develop an operation plan for the Libertad project based on the original goals and promise that no SOL will be used for purposes other than the project, all funds will be accounted for transparently, and more details will be provided later.
According to Lookonchain, the user address: HJXRy9… hzQiaz spent 14,214 SOL (worth approximately US$2.85 million) to purchase 1.11 million LIBRA units, and finally sold them all for 3,964 SOL (worth approximately US$781,000), losing US$2.07 million in 2 hours.
Andre Cronje, co-founder of Sonic Labs (Fantom), tweeted that in the past we would argue with each other over issues such as a feature that does not affect assets being controlled by an external account or a contract being controlled by multiple signatures rather than a time lock. Now presidents and sovereign states are dumping us in a comprehensive criminal model. Encryption lasts forever. Asked whether he regretted returning to the currency circle, AC responded: This is just the result of wider adoption, and the Meme coin craze does not conflict with my work. Those participating in Meme coins are a group that doesn’t care about DeFi or even blockchain at all. So Meme coins did not steal any attention because the participants were not our user group. Therefore, I am happy to see its success.
It is worth noting that this is not the first time Argentine President Millay has carried out similar activities. In 2021, he posted information on Instagram about CoinX, a self-proclaimed high-return investment platform. In June this year, Argentina’s National Securities Commission (CNV) issued a risk warning about CoinX to the public and banned the platform from operating. Currently, the victim has submitted materials to prosecute Javier for the Ponzi scheme.
On February 16, KIP Protocol stated that the token release and market-making were entirely responsible for Kelsier Ventures, and the representative was Hayden Davis, the initiator of the project, and that none of these wallets belonged to KIP. All matters related to the launch and token should be forwarded to Kelsier as they are handling the matter and plan to transfer the token to the foundation. All SOL acquired today will be re-injected into LP. All market-making fees will be transferred to a foundation in Argentina. The foundation will continue to run the program as originally planned.
Kelsier issued a statement stating that Argentine President Javier Milei initially supported and actively promoted Libra tokens on social media platforms, including X and Instagram. His colleagues received his public support at the time of the launch and assured me that he would continue to receive support throughout the launch process. Despite previous promises, Milei and his team unexpectedly reversed their stance, withdrawing their support and deleting all previous social media support. After consulting experts, I recommended reinvesting 100% of the funds I control (up to $100 million) into Libra tokens and destroying all purchased supplies. Unless more feasible alternatives are proposed, I intend to begin implementing the plan within the next 48 hours.
