Analysis: The teams behind LIBRA and MELANIA are laundering money through wash trading

ChainCatcher news, according to Lookonchain monitoring, the internal teams of LIBRA and MELANIA are laundering money through "wash trading."

It is reported that the team spent 19,846 SOL (approximately 2.76 million USD) to purchase a meme coin (POPE) with a market value of less than 150,000 USD, and ultimately sold it for 175 SOL (approximately 24,000 USD), incurring a loss of 2.73 million USD, which was effectively transferred to other wallets in a "legitimate" manner.