Bubblemaps: The LIBRA development team has cashed out $87 million by removing liquidity

According to ChainCatcher news, as revealed by Bubblemaps, the development team of the meme token LIBRA, allegedly issued by the President of Argentina, is suspected of cashing out approximately $87 million by withdrawing USDC and SOL from the liquidity pool.

On-chain data shows that the development team created a unilateral liquidity pool containing only LIBRA on Meteora, while withdrawing USDC and SOL. As a result, the price of LIBRA has dropped by 85%.

On-chain analysis indicates that 82% of LIBRA tokens are concentrated in the same wallet cluster, and the project team has not disclosed the tokenomics model. According to Bubblemaps, the team still has tokens worth approximately $500 million to cash out.