Wallet addresses associated with the controversial Libra token continue to siphon funds from failed meme coins and transfer them into other cryptocurrencies, despite facing asset freezes and ongoing fraud investigations.
These wallets related to the Libra token— which has sparked controversy due to endorsement by Argentine President Javier Milei— have extracted nearly $4 million in liquidity from meme coins to buy the dip in SOL.
According to blockchain data platform Onchain Lens, after the withdrawals, two crypto wallets linked to the Libra team purchased $61.5 million worth of SOL at an average price of $135.
Blockchain intelligence firm Nansen identified that these SOL purchases were made through two addresses: one named "Defcy," marked as "Libra Deployer"; the other "61yKS," marked as "Libra: Wallet."
Before the $4 million withdrawal, the Libra Deployer wallet held an additional $13 million in USDC, while the Libra Wallet '61yKS' held $44 million in USDC on Monday, which was subsequently used to purchase Solana.
During the collapse of the Libra token, eight insider wallets cashed out $107 million in liquidity, leading to a $4 billion evaporation in market capitalization within hours.
Argentine lawyer Gregorio Dalbon has requested an Interpol red notice for Libra founder Hayden Davis, citing "procedural risks" if Davis continues to act freely, as he may control substantial funds and have the ability to flee the United States.
Despite the ongoing investigation and previous asset freezes, wallet addresses related to the Libra scandal continue to drain liquidity and invest in new digital assets.
In May of this year, U.S. Judge Jennifer Rochon froze $57.6 million in USDC in a class-action lawsuit against crypto venture firm Kelsier Ventures and its three co-founders Gideon, Thomas, and Hayden Davis, accusing them of misleading investors through the creation of the Libra token.
However, Judge Rochon unfreezed the $57.6 million on August 21, stating that the defendants did not cause "irreparable" harm, as the funds needed to compensate victims were still available.
Additionally, Libra founder Davis is also a co-founder of Official Melania Meme (MELANIA) and the Wall Street Wolf-themed meme coin (WOLF). When Davies launched the Wall Street Wolf-themed meme coin, its internal supply exceeded 80%, causing the token to plummet 99% within two days.
The latest wallet movements indicate that the Libra Deployer wallet is shifting from internal meme coin issuance to exploring altcoin opportunities during the current market correction.
Related: The U.S. Securities and Exchange Commission (SEC) did not specifically mention cryptocurrencies in its 2026 review focus.
Original article: “Wallets Related to the Libra Scandal Withdraw $4 Million and Heavily Invest in Solana (SOL)”
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