Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
A multi-sig wallet linked to controversial meme coin LIBRA has moved $9 million after nine months of complete stagnation.
These surprising activities occurred at a time when the United States judicial system was considering freezing relevant funds to protect the ongoing investigation, which was conducted under the supervision of the Southern District Court of the United States District Court.
Sponsored
Sponsored
The inactive LIBRA wallet wakes up
The wallet, called “Melay” on several blockchain monitoring platforms, sent 69,000 SOL – worth around $9 million – via a series of obscure addresses.
Blockchain analyst Fernando Molina, who discovered the activity, said the trail indicates an attempt to hide the destination of the funds. The wallet remained untouched Since February 15, a day after LIBRA collapsed after its chaotic launch.
This move represents the first known outpouring of any Multi-signature wallet In relation to the project. These portfolios require at least two signatures, indicating coordinated action.
The timing also coincides with The emergency request filed in Manhattanthat the actors are looking for Class action To stop the movement of funds before disappearing more assets. The application is now before Judge Jennifer Rochon, who is presiding over the case.
Sponsored
Sponsored
Threat of lost evidence
Legal counsel for the Borwick barrister, representing the plaintiffs, told the court that they believed the defendants could soon transfer the rest of their assets to… privacy coins That can delete all transaction records.
Court documents warn that vital funds linked to the launch of LIBRA could be lost if the change is made. The file claims that the defendants are close to destroying the evidence.
The plaintiff’s lawyers argued that the concerns were not hypothetical, according to court documents accessed by BeInCrypto.
Sponsored
Sponsored
They pointed to two specific incidents on November 16 and November 18. These events show that the defendants had already decided to use obfuscation tools designed to remove the blockchain trace.
Prosecutors argue that money is at risk
According to the legal file, the first event, which took place on November 16, was clearly an experiment. He made a wallet Associated with the LIBRA team Through the funds through the NEAR Intents protocol and then to a protected Zcash address.
Once money enters Zcash’s privacy pool, it becomes mathematically untraceable. Prosecutors have described this as a deliberate proof of concept that highlights it The defendants can make LIBRA’s proceeds disappear Irreversible.
Sponsored
Sponsored
In the next two days, the activity escalated dramatically. The report said that on November 18, the defendants began transferring more than $60 million USDC linked to LIBRA in approximately 456,000 SOL.
The funds were then pooled into two new ‘situation’ portfolios – a common step used before assets are paid off. Through privacy systems Or methods of anonymity between chains.
The file indicated that the move strongly suggests preparation for a full money laundering operation similar to the one carried out on November 16.
The growing activities have now prompted the court to act urgently. A hearing on the Plaintiffs’ request for injunctive relief is scheduled for this Tuesday at 4 PM EST.
For investigators and plaintiffs, the next hearing could determine whether the remaining LIBRA funds remain traceable or disappear forever.
