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KIP Protocol, the firm associated with LIBRA, denied accusations of a rug pull and insisted that the project would continue as planned

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

Multiple blockchain analysis firms had warned about the LIBRA token’s flawed tokenomics and lack of KYC

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The LIBRA token crashed 95%, plummeting from a peak market cap of $4.5 billion to $500 million, after insiders cashed out $107 million following President Javier Milei’s endorsement

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