Wallets connected to the troubled Libra (LIBRA) token continue to move large sums of money across the crypto market. New on-chain activity shows that these addresses are still draining liquidity from the collapsed memecoin and redirecting those funds into other digital assets, with Solana becoming their latest major target.
Recent blockchain data reveals that nearly $4 million was pulled out from Libra's liquidity pools and used to buy a significant amount of Solana (SOL) during the market dip. In total, the wallets acquired around $61.5 million worth of SOL at an average price of $135.
"Libra Deployer" wallet "Defcy," transaction heatmap. Source: Nansen
These latest transactions add to the ongoing controversy surrounding the Libra token. During its collapse, eight insider wallets reportedly withdrew $107 million in liquidity, triggering a dramatic $4 billion market cap wipeout in hours. The situation drew even more attention because Libra had been publicly endorsed by Argentine President Javier Milei.
Legal Tensions Continue to Rise
Argentine lawyer Gregorio Dalbon has called for an Interpol Red Notice for Libra creator Hayden Davis. In May, U.S. Judge Jennifer Rochon froze $57.6 million in USDC linked to a class-action lawsuit — though she later reversed the freeze, stating that unblocking the funds wouldn't cause "irreparable harm."
Source: Bubblemaps
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