by Rubab Fatima
Ben Chow created controversy when he posted on Twitter to criticize members of the meme coin sector. The deleted post charged these token launch figures including Libra LIBRA, Melania MELANIA and Official Trump TRUMP with using their market position to profit illegally.
The post disappeared but named DeFiTuna team members as participants in insider trading schemes that harmed others. After this statement Meteora took strong action to separate itself from Chow because their account had been compromised. Meteora confirmed on X that its systems showed unauthorized entry and it fixed the security breach.
Earlier, someone had momentarily gained access to the Meteora X account.
We have since regained full control of our account, and will share more updates as we investigate the situation.
— Meteora (@MeteoraAG) March 11, 2025
Meteora Orders Independent Investigation Into Allegations
Chow’s controversial post exposed possible money scams in the meme coin industry through leaked private messages showing team insiders planning illegal trading methods. Meow assured everyone trust remains in Meteora and Jupiter while ordering an outside team to check both platforms completely.
The LIBRA scandal moved beyond Meteora into the world of politics when Argentine President Milei faced criticism for his promotion of the token. When President Milei expressed support for LIBRA the token value exploded to a $4 billion market value before traders lost millions of dollars during a sharp market decline. The topic led people to say that Milei crossed proper political and financial boundaries when promoting the token.
According to Milei free market principles motivate his endorsements even though some critics say he organized the sudden token drop. The public’s loss of confidence in his leadership pushes people to demand his removal from office because of his approval of investment opportunities.
Meteora Scandal Intensifies with Chow’s Resignation
The Meteora scandal escalated on March 11 with an announcement posted by Chow at his X account about his decision to step down. DeFiTuna executives Vlad Pozniakov and Dhirk plotted to profit from meme coin launches as reported by the latest post. The text revealed that Kelsier Ventures leaders Hayden Davis and Gideon Davis met to find methods to gain more profits from their business operations.
Our goal is to extract all possible profits from this project according to one participant in the leaked message. Following the publishing of these unsettling statements Meteora took swift action to explain they had resulted from unauthorized access into their system.
Meteora keeps silent while media outlets try to obtain information about Chow’s role with the company. Meow maintained his faith in Chow’s fundamental character even though he had seen Chow make errors in recent times. Fenwick & West brought an independent party to sort out the details of these accusations formally.
Meteora now seeks replacement leadership because Chow resigned while people worry about standard industry manipulation techniques. These events show evidence of network instability and create doubts about current cryptocurrencies as more rules require industry leaders to follow.
People in the crypto community are waiting patiently for official results from the independent investigation at Meteora. Investors doubt how large the scandal is and what other industry players were involved when the story is fully revealed.
While the situation stays in flux new discoveries about the controversy could still arrive in the future. What started between Meteora internal parties has grown into a more extensive conversation about honest business conduct people’s money and political endorsement effects on risky investments.
#blockchain #crypto, #decentralized, #distributed, #ledger
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