The Bobblemaps blockchain analysis company has identified chain links between the teams behind the pieces even Balance and Melania, which suggests that one entity can orchestrate the two projects. The results, based on crossed transfers and transaction models, indicate a potential centralized control over the two tokens, which have experienced similar fast price and collapse.
The balanced token, which attracted sudden attention last Friday after the president of Argentina, Javier Milei, approved it, saw its value arrows before hunting in a few hours. The initiates would have collected $ 107 million in negotiation fees and liquidity pool funds, accelerating the collapse of the token.
Likewise, the Melania token even, approved by the first American lady, underwent a comparable trajectory in January, with its market capitalization before the decline.
Bubblemaps says that a Solana portfolio, “P5TB4”, played a key role in the survey.
The portfolio would have accumulated more than $ 2.4 million thanks to sniper activities on the Melania token before transferring funds to an EVM portfolio based on avalanche, “0xcea”. This portfolio was linked to the creator of Melania through financing transactions and cross -transfers. A few weeks later, the 0xcea address was found funding “Defcyk”, the main creator portfolio of the balance token, which is also labeled as a team portfolio on Solscan.
A more in -depth analysis by Bubblepaps suggests that other tokens, in particular confidence, KACY, vibrations and hood, can also be managed by the same entity, indicating a centralized control model on market actions for several projects.
In the midst of these revelations, President Milei faces allegations of fraud linked to his involvement in the balanced project after the drop in value of 95% of the token. Milei denied prior knowledge of the internal functioning of the project.
Meanwhile, Bubblemaps and other analysts, including Crypto Investigator Coffeezilla, endeavor to definitively identify the entity behind these operations. The investigation remains in progress.
