DefiTuna founder reveals network exploiting $ 200 million from meme coin launch on Solana

Secret Takeaways

A coordinated scheme on Solana apparently extracted $ 200 million from financiers with meme coin launches.
DefiTuna’s Moty implicate Kelsier Ventures, Meteora, and M 3 M 3

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DefiTuna co-founder Moty Povolotski has declared that Kelsier Ventures, Meteora, and M 3 M 3 collaborated a collection of meme coin launches on Solana to draw out $ 200 million in revenues at the cost of innocent financiers.

In a series of tweets on Feb. 17, Moty revealed that Kelsier Ventures had actually spent $ 30, 000 in DefiTuna last month, but upon uncovering Kelsier’s tasks, DefiTuna refunded the investment and cut all ties.

Kelsier Ventures, led by CEO Hayden Davis, is an essential entity in the Libra token launch. In a recent meeting with Coffeezilla, Hayden confessed that the team sniped during the Libra token launch.

“I have actually directly gone above and beyond by risking myself and whatever we constructed over at DefiTuna to try and obtain key players to speak out and start naming the criminals and weeding them out,” the DefiTuna creator stated.

The creator divulged the presence of “an enormous spiderweb of influencers that are banking millions from the Meteora neighborhood made it possible for by the leadership team of Ben.”

According to Moty, Ben, or Ben Chow, prepared to resign after the Libra rumor.

A video gotten by SolanaFloor and later estimated by Moty shows that he informed Ben about Hayden’s declared meme coin misconduct. Ben appeared to be surprised by the information, rejected any involvement by himself or Meteora, and stated he regretted linking Hayden with other jobs.

BREAKING: SolanaFloor has acquired unique video clip evidence subjecting a $ 200 M+ memecoin removal scheme linked to @KelsierVentures, @MeteoraAG and @WEAREM 3 M 3 _.

The video footage, featuring DeFi Tuna Owner @CavemanDhirk and Ben Chow, provides further reliability to accusations of … pic.twitter.com/rjPLBgKCjG

— SolanaFloor (@SolanaFloor) February 17, 2025

Complying with Moty’s tweets and the video footage, Meow, the pseudonymous co-founder of Jupiter DEX, revealed that Ben resigned from his duty at Meteora.

Meow strongly denied any type of involvement of Jupiter or Meteora in insider trading, financial misdeed, or inappropriate token distribution.

Hi, I’m meow from Jupiter, and I also cofounded Meteora.

To start with, I wish to repeat my self-confidence that no one at Jupiter or Meteora committed any kind of expert trading or economic misdeed, or received any kind of symbols inappropriately.

Secondly, we are working with an independent 3 rd.

— meow (,) (@weremeow) February 18, 2025

More details surface

According to evidence shown SolanaFloor, Kelsier came close to DefiTuna via a Lebanon-based staff member to offer liquidity for M 3 M 3, a platform supposedly had by Chow. Projects introducing on M 3 M 3 were supposedly needed to allot a part of token supply to Kelsier’s team, as detailed by Moty.

Screenshots indicate that $ 2 4 million was removed from community members through the MATES and AIAI token launches, with both symbols dropping 95 % considering that launch.

In the Melania meme token situation, Kelsier provided DefiTuna with 1 % of overall supply, worth $ 100 million at height, requesting a confidential sale with Orca LP tokens as NFTs to stay clear of on-chain monitoring. Hayden, however, informed Coffeezilla that his group did not profit from the Melania token launch.

When questioned concerning Kelsier’s overall profits from M 3 M 3, Moty stated:

“Like if you take into account AIAI + COMPANIONS + ENRON + Bunch of various other tasks … + Melania + LIBRA … over 200 M? And there are plenty extra projects.”

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