{"id":90225,"date":"2025-10-23T18:50:49","date_gmt":"2025-10-23T15:50:49","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=90225"},"modified":"2025-10-23T18:55:15","modified_gmt":"2025-10-23T15:55:15","slug":"meteora-co-founder-accused-of-ties-to-melania-and-libra-scams","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/meteora-co-founder-accused-of-ties-to-melania-and-libra-scams\/","title":{"rendered":"Meteora Co-Founder Accused of Ties to MELANIA and LIBRA Scams"},"content":{"rendered":"

A class action lawsuit has been filed against DEX<\/a> Meteora and its co-founder Benjamin Chow, alleging fraud related to the controversial meme tokens LIBRA and MELANIA. <\/p>\n

The plaintiffs claim that the defendants “borrowed authority” from real personalities or narratives, including the official coin of the U.S. First Lady Melania Trump and the token for Argentina’s revival.<\/p>\n

\n

“These individuals and brands were used as props to legitimize what was actually a coordinated liquidity trap,” the documents state.<\/p>\n<\/blockquote>\n

Public figures, however, should not be held accountable, as they were “merely a front” for the fraudulent scheme orchestrated by Meteora and Kelsier Ventures, led by Hayden Davis<\/a>. <\/p>\n

According to the lawsuit, Kelsier conducted marketing campaigns for the token launches. Chow was “at the center of the business” and assembled a team to execute the alleged scheme. <\/p>\n

The victims claim that the defendants launched and sold at least 15 tokens using a similar scheme. The lawsuit mentions five of them \u2014 LIBRA, MELANIA, ENRON, TRUST, and M3M3. <\/p>\n

In February, Chow stated<\/a> in an interview that neither he nor Meteora received any tokens or possessed insider information related to the Libra project. In the same month, following a public scandal, he left the project.<\/a><\/p>\n

Back in May, FT journalists discovered<\/a> that a small group of traders made $99.6 million by purchasing the meme coin MELANIA before its official announcement. <\/p>\n","protected":false},"excerpt":{"rendered":"

A class action lawsuit has been filed against DEX Meteora and its co-founder Benjamin Chow, alleging fraud related to the controversial meme tokens LIBRA and MELANIA.<\/p>\n","protected":false},"author":1,"featured_media":90226,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Lawsuit against Meteora co-founder over LIBRA and MELANIA scams.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1162,1089,1246],"class_list":["post-90225","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-court-cases","tag-libra","tag-scammers"],"aioseo_notices":[],"amp_enabled":true,"views":"163","promo_type":"1","layout_type":"1","short_excerpt":"Lawsuit against Meteora co-founder over LIBRA and MELANIA scams.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90225","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=90225"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90225\/revisions"}],"predecessor-version":[{"id":90227,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90225\/revisions\/90227"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/90226"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=90225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=90225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=90225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}