The Libra memecoin disaster may have cratered its market cap and sparked global investigations, but the wallets behind the scheme are far from dormant.
New on-chain data reveals that wallets linked to the collapsed Libra project are still moving enormous sums — and their latest target is Solana .
Despite asset freezes, fraud probes, and one of the most chaotic crashes in recent crypto memory, these wallets recently withdrawn nearly 4 million USD from Libra liquidity and used it to “buy the dip” on SOL.
Following the money — straight to Solana
According to blockchain analytics platform Onchain Lens, two wallets tied to the Libra team have purchased roughly 61.5 million USD worth of SOL.
The $LIBRA team recently withdrew 3.94M $USDC from the liquidity pool.
2 of their wallets bought 456,401 $SOL for $61.59M $USDC at a price of $135.
Addresses:
– DefcyKc4yAjRsCLZjdxWuSUzVohXtLna9g22y3pBCm2z
– 61yKS9bjxWdqNgAHt439DfoNfwK3uKPAJGWAsFkC5M4CData @nansen_ai pic.twitter.com/IqsyHYGiZe
— Onchain Lens (@OnchainLens) November 18, 2025
That’s not a casual trade — it’s a strategic reallocation the size of a small institutional position.
The transactions came from two wallets flagged by Nansen:
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“Defcy” — labeled as “Libra Deployer”
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“61yKS” — labeled as “Libra: Wallet”
These are the same wallets investors frantically watched during Libra’s implosion — not random on-chain gamblers.
Before rotating into SOL:
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The Libra Deployer wallet held 13 million USD in USDC
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The “61yKS” wallet held 44 million USD in USDC
Meaning: there is still significant capital sitting behind the scenes.
The collapse — a lightning-fast liquidity drain
When Libra fell apart, eight insider wallets were able to withdraw 107 million USD in liquidity, wiping out nearly 4 billion USD in market cap within hours.
The scandal escalated when Argentina’s President Javier Milei’s perceived “endorsement” aged poorly, fueling public outrage.
Argentine lawyer Gregorio Dalbon even pushed for an Interpol Red Notice targeting Libra creator Hayden Davis, arguing he had access to enough funds to disappear overnight.
Court battles, frozen funds, and a partial reversal
Legal action quickly followed.
In May, U.S. Judge Jennifer Rochon froze 57.6 million USD in USDC tied to a class-action lawsuit against Kelsier Ventures over alleged fraud related to Libra.
But the twist came in August, when Judge Rochon lifted the freeze, stating plaintiffs hadn’t proven “irreparable harm” since other compensation sources still exist.
Whether those funds remain accessible in the long run, however, is another question.
From memecoin schemes to altcoin positioning
Libra founder Hayden Davis has a track record. He was also behind the Official Melania Meme token and the Wolf of Wall Street-themed WOLF memecoin — a token that launched with over 80% insider supply and plunged 99% in 48 hours.
5/ The bubble map revealed something strange—$WOLF had the same pattern as $HOOD , a token launched by Hayden Davis
Was he behind this one too?
— Bubblemaps (@bubblemaps) March 15, 2025
Now, analysts say Libra-linked deployer wallets appear to be shifting strategy.
Instead of launching new insider-heavy meme projects, they are reallocating capital into larger altcoins — with Solana emerging as the primary destination during the market correction.
A reminder: in crypto, villains rarely exit — they simply rotate
The takeaway is blunt but important: wallets tied to a billion-dollar rug pull are still operating, still moving money, and still influencing liquidity across ecosystems.
They may have abandoned Libra — but the players behind the collapse haven’t left the stage. They’ve just changed tokens.
Cryptocurrency and Web3 expert, founder of Kriptoworld
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With years of experience covering the blockchain space, András delivers insightful reporting on DeFi, tokenization, altcoins, and crypto regulations shaping the digital economy.
