0xcEA Strikes Again? LIBRA’s Creator Tied to Multiple Crypto Scams

Key Takeaways

• A wallet address, 0xcEA, has been identified as the mastermind behind multiple celebrity meme coin scams, including the $4.4 billion LIBRA rug pull.
• The 0xcEA wallet, reportedly tied to Kelsier Ventures, reportedly used insider information and sniping tactics to make millions in profits.
• Over the past few months, the wallet address has been linked to numerous pump-and-dump schemes.

The recent $4.4 billion LIBRA memecoin rug pull has shone a harsh light on the murky underworld of crypto scams.

As investigations into the incident unfold, one wallet address—0xcEA—has emerged as a key player, linked not only to the LIBRA scandal but also to a series of other high-profile memecoin scams that have swindled millions from retail investors.

0xcEA Strikes Again

The 0xcEA wallet address, now infamous for its involvement in the LIBRA rug pull, has been traced back to several other dubious memecoin schemes.

On-chain analyses indicate that this wallet was a central figure in scams surrounding tokens like MELANIA, TRUST, KACY, VIBES, and the recently hyped HOOD coin.

According to an investigation by Bubblemap , cross-chain transfers and timing patterns suggest that the same team behind the MELANIA memecoin also orchestrated the rise and fall of these other tokens, manipulating markets for maximum profit.

The most glaring example comes from MELANIA, where one address sniped the token early, making a profit of $2.4 million. The proceeds were then transferred to the 0xcEA wallet, further cementing its connection to these pump-and-dump operations.

In a chilling pattern, the same wallet also funded DEfcyK, the creator of LIBRA, and was subsequently involved in the massive sell-off of LIBRA tokens as the market cap peaked.

Insider Knowledge and Sniping Tactics

The investigation into LIBRA revealed that the masterminds behind the scams were not content with simply creating worthless tokens—they also exploited insider knowledge to manipulate the market.

This included using multiple wallet addresses to “snipe” tokens at launch, a practice known as “sniping.”

Sniping involves buying large quantities of a newly launched token within seconds of its release, typically before retail investors can act.

These snipers accumulate substantial holdings early on, only to dump the tokens hours later at a significant profit, leaving average investors holding the bag.

In the case of LIBRA, snipers linked to 0xcEA were responsible for offloading over $100 million worth of the memecoin as its market reached its peak.

The Players Behind LIBRA

In the wake of the LIBRA debacle, investigative journalist Coffeezilla contacted individuals linked to the 0xcEA address and its creators.

The revelations pointed to a tight-knit group led by Hayden Mark Devis, CEO of Kelsier Ventures, his father, Tom Davis, and serial memecoin scammer Arunkumar Sugadevan.

During an interview, Tom Davis admitted that the team not only created the LIBRA memecoin but also orchestrated the sniping of their own token. Using multiple wallet addresses, they capitalized on early access to the LIBRA launch, pulling in $6 million in profit in the process.

This brazen manipulation highlights the extent of corruption within the memecoin space, where market manipulation and scams continue to prey on unsuspecting investors.

A Growing Epidemic

The LIBRA saga is a stark reminder of the growing risks in the memecoin market.

While many investors chase the allure of quick profits, the reality is that powerful insiders are often the ones reaping the rewards.

As more scams come to light, the need for stronger regulation and transparency in the memecoin ecosystem becomes ever more pressing.

The 0xcEA wallet and its connection to the LIBRA rug pull serve as a troubling example of the darker side of cryptocurrency, where financial manipulation and deceit thrive unchecked.