Wallet addresses linked to the controversial Libra memecoin continue to extract liquidity while moving funds into new cryptocurrencies despite investigations and asset freezes.
The Libra token, which has received backlash for its support by Argentine President Javier Milei, has seen almost $4 million withdrawn from its liquidity for purchasing Solana (SOL) during a price dip.
According to blockchain data from Onchain Lens, after the capital removal, two wallets related to the Libra venture have acquired $61.5 million worth of SOL at an average price of $135. The source indicates that one of these wallets is tagged as “Libra Deployer” and the other as “Libra: Wallet.”
Libra Deployer Wallet “Defcy”
“Libra Deployer” wallet “Defcy,” transaction heatmap. Source: Nansen
Libra Wallet ‘61yKS’ holdings
Libra Wallet ‘61yKS’ holdings as of Nov. 17. Source: Nansen
Notably, prior to withdrawing the funds, the Libra Deployer wallet held an additional $13 million in USDC while ‘61yKS’ maintained $44 million in USDC before reallocating the funds to purchase SOL.
Argentine lawyer Gregorio Dalbon has requested an Interpol Red Notice for the Libra creator Hayden Davis, citing a procedural risk due to the potential access to vast sums that might enable him to escape the United States.
During the collapse of the Libra token, a group of insider wallets reportedly cashed out $107 million, resulting in a dramatic $4 billion reduction in market cap.
In May, US Judge Jennifer Rochon ordered the freezing of $57.6 million in USDC associated with a class-action lawsuit against crypto venture company Kelsier Ventures for deceiving investors in relation to the Libra token. However, this amount was later unfrozen.
The movements of Libra wallets show a shift from engaging in memecoin launches to exploring altcoin investments amidst the current market fluctuation.
