The Argentine president distanced himself from the Libra file and said he was not aware of the vision of the Token Libra project team. Experts successfully charged more than $ 100 million for this file.
Summary
- The Argentine president announced his support for the Token of Libra, but hours later, he refused to support him.
- The Kip protocol said for the first time that it is the team behind the Token Libra.
- After the controversy, the KIP protocol team said financially that it was not involved.
- With this tokens launch, Kelsier Ventures generates $ 100 million in profits.
- The project team agreed to reinvest $ 100 million in this Token.
$ LIBRA TOKEN INTRODUCTION
$ Libra Token is a meme token backed by the KIP protocol. This project team is backed by Animoca Ventures in Hong Kong and also an official partner of the Open Campus Project Animoca. According to the statements, all financial transactions and the launch of this work related to the token were made by Kelsier Ventures.
First appearance of Libra Token
The first time that the cryptographic community came to know this record of Argentine president Javier Milei, but in a few hours, he eliminated his tweet saying that he was not aware of the vision of the file and also said that he had nothing to do with him with him Backend Project team, I was just looking for a better cryptographic project to help Argentine private companies.
KIP protocol in Libra Token Connection with the Argentine President
After the second tweet of the Argentine president, the Kip protocol team responded to the accusations of a link between the Argentine president and the Token of Libra and said that the president has nothing to do with the Token of Libra. They also declared that they aim to help private Argentine companies with the help of Libra tokens.
Token libra scam
In the chain, the investigations showed that the majority of the offer of Libra Token was in the hands of 8 cryptographic directions.
Eight wallets associated with the Libra team obtained 57.6 million USDC and 249,671 Sun (approximately 49.7 million dollars) adding liquidity, eliminating liquidity and collecting rates, with a total cash of approximately 107 million US dollars.
After these developments, the commercial price of Token Libra crashed at 85% in a short time and resulted in large losses for investors.
The research in the IMK chain. Fun showed that at least 24 cryptography addresses lost more than $ 1 million in Libra, while 61 addresses faced a loss of more than $ 500,000. The largest loss address spent $ 5.6 million to buy Libra tokens, but sold them all for only $ 430,000, which means that the investor faced a network of $ 5.17 million.
Clarification of the KIP protocol on this incident
The KIP protocol team published new information about all these developments and said that media reports are disseminating false information about Libra token.
They declared that an unexpected decision of the Argentine President resulted in some unexpected results.
First, the KIP protocol team clarified that the KIP protocol was not involved in the launch of Tokens; Kelsier Ventures did all the work related to the launch and Token transaction.
However, the KIP protocol was distanced from any type of unusual behavior, but said they spoke with Keisier Ventures, and agreed that they would invest again up to $ 100 million in this token.
Individuals behind the token scam of Libra
The co -founder of Fuzzland, Chaofan, Shou, shared his research in the chain and pointed out that the Libra Token market manufacturer was directly linked to Arunkumar Sugadevan and another Rugger in India series.
A deeper analysis showed that they are also experts of the tokens Melania and $ Enron Meme, as well as the development of OG Fun.
He also said that the founder of one of the largest Solana protocols will go to jail, which is currently in Singapore. In addition, he urged centralized cryptographic exchange, Binance, Kraken to freeze the funds.
Read also: OKX and Bitget to launch a very controversial token token $ pi
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