Memecoin News: Melania, Javier Milei, Just Props in Memecoin Fraud?
Lawsuit uncovers Melania Trump and Javier Milei as props in a $57M memecoin scheme. Authorities revealed the information about the MELANIA and LIBRA tokens.
A new class action case has been filed against Melania Trump and Argentine President Javier Milei, with both accused of using their names in a huge memecoin scam.
The plaintiffs are suing Meteora founder Benjamin Chow and others. They allege that Chow carried out a $57 million pump-and-dump scheme using tokens called MELANIA and LIBRA.
Although the complaint has gained high-profile attention, it clarifies that neither Melania Trump nor Javier Milei faces any accusations of wrongdoing. The scammers merely used their names to lend the scheme credibility.
High-Profile Figures Exploited in $57M memecoin Scam
The case of Hurlock v. Kelsier Ventures indicates that Benjamin Chow orchestrated a well-organized campaign to launch at least 15 memecoins.
The U.S.-backed MELANIA token. First Lady shortly after the inauguration of President Donald Trump in 2025, initially soared in value but then dropped by almost 99 percent.
Similarly, supporters vigorously promoted LIBRA, associating it with Milei’s name, but the project failed shortly after its launch.
The scammers used the two tokens as major bait to lure unsuspecting investors into a liquidity trap designed to benefit the insiders.
Investors allege that Chow and his partners have used the recognition of Melania Trump and Javier Milei to create hype.
The grievance explains that the scammers used the names and themes of these public figures solely to attract attention.s54wt2wgw3
This was a disguise for a calculated fraud, as this allowed the defendants to artificially inflate token values and withdraw them as the investors incurred millions in losses.
Lawsuit Highlights Innocence of Trump, Milei
Most importantly, the legal filing clarifies that Melania Trump and Javier Milei, in person, have nothing to do with any form of the alleged fraud. They are not connected to the scheme in any way.
The anti-corruption office of Argentina also vindicated Milei of any activity related to the promotion of LIBRA tokens.
The lawsuit is a very grim warning regarding the dangers of memecoins, which are driven by celebrity ads.
It reveals the way scammers can exploit trusted names to give an illusion of authenticity. They then use this illusion to organize coordinated dumping of scams that wipe investors of their money.
The MELANIA and LIBRA exposures show the pressing necessity of review in the booming and yet unstable crypto memecoin industry.
The post Memecoin News: Melania, Javier Milei, Just Props in Memecoin Fraud? appeared first on Live Bitcoin News.
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