The LIBRA token crash is suspected to be a rug pull after data revealed 83% of the supply was controlled by a small group of wallets which sold $105 million USD after the launch

Event date

Feb 14, 2025 - 12:00am

Quotes that support claims

However, mere hours after the token's rise, 8 wallets related to the $LIBRA team cashed out $107 million, according to Lookonchain, sparking a 95% crash in the token's market cap and accusations of an insider rug pull. Analytics firm Bubblemaps had noted that 83% of the token's supply was concentrated in a small cluster of wallets.

Within minutes of the launch, multiple large holders began liquidating millions of USD worth of LIBRA. This included gains of +$4 million or more as LIBRA rose to $4.6 billion in market cap. After the top was set at 5:40 PM ET, the coin fell in a literal straight-line,” wrote The Kobeissi Letter.