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Tuesday Nov 18 2025 10:50
2 min
Even with asset freezes and ongoing fraud investigations, wallets associated with the controversial Libra (LIBRA) token continue to extract funds and redirect them into other cryptocurrencies. This follows controversy stemming from Argentine President Javier Milei's endorsement of the token.
The wallets linked to Libra have withdrawn nearly $4 million in liquidity from the memecoin, using these funds to purchase Solana (SOL) during a recent dip. According to blockchain data platform Onchain Lens, two cryptocurrency wallets connected to the Libra team acquired $61.5 million worth of SOL at an average price of $135.
These Solana purchases were traced through two addresses identified by blockchain intelligence firm Nansen: “Defcy,” labeled as “Libra Deployer,” and “61yKS,” labeled as “Libra: Wallet.”
Prior to the $4 million withdrawal, the Libra Deployer wallet held an additional $13 million in USDC (USDC), while the Libra Wallet ‘61yKS’ held $44 million in USDC on Monday, before the funds were deployed to buy SOL.
During the collapse of the Libra token, eight insider wallets cashed out $107 million in liquidity, resulting in a $4 billion market capitalization wipeout within hours.
Argentine lawyer Gregorio Dalbon has requested an Interpol Red Notice for Libra creator Hayden Davis, citing a “procedural risk” should Davis remain free, as he could access significant funds allowing him to flee the US.
In May, 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 sibling co-founders, Gideon, Thomas, and Hayden Davis, alleging they misled investors through the creation of the Libra token.
However, Judge Rochon unfroze the $57.6 million on August 21, stating that the defendants did not cause “irreparable” harm because the funds to reimburse victims remained accessible.
Davis was also a co-creator of the Official Melania Meme (MELANIA) and Wolf of Wall Street-themed Wolf (WOLF) memecoin.
The recent wallet movements suggest that Libra deployer wallets are shifting their focus from insider memecoin launches to exploring alternative cryptocurrency opportunities during the current market correction.
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