Meteora announced its co-founder Ben Chow’s X account was hacked after it posted controversial claims targeting founders of popular memecoins. The incident reignited concerns surrounding recent token launches, including Libra (LIBRA), Melania Meme (MELANIA), and Official Trump (TRUMP).
Meteora’s Co-founder X Account Posts Accusations Against Memecoin Founders
On March 11, Chow’s X account published an “official statement” explaining why he resigned from Meteora. The tweet accused Vlad Pozniakov and Dhirk, co-founders of DefiTuna, of exploiting memecoin launches solely for profit. It specifically mentioned the MELANIA token, along with others like Mates (MATES) and a recent launch on the Raydium platform.
As a long-time Solana builder, the reason I stepped down is because I am far too trusting for how parasitic the memecoin space is.
the tweet claimed.
However, shortly afterward, Meteora’s official X account labeled Chow’s post as fraudulent. The company quickly warned users that Chow’s account had been compromised and advised everyone not to click any links shared by the hacked account. Meteora deleted the controversial tweet promptly once it regained control over Chow’s account.
Alleged Private Conversations Revealed
Chow’s tweet also included screenshots reportedly showing private WhatsApp conversations between executives of investment firm Kelsier Ventures and DefiTuna co-founder Vlad Pozniakov. In one message, someone allegedly stated, “Yeah fellas tbh we are trying to max extract on this one,” referring to the MATES memecoin.
However, it remains unclear if these WhatsApp screenshots are genuine, as their authenticity could not be independently verified.
Zen, another Meteora co-founder who recently became CEO after Chow’s departure, confirmed the hack. Meteora cautioned Investors to avoid clicking on links from both Chow’s and Meteora’s compromised accounts to protect against potential financial losses.
Argentina’s President Milei Under Fire for Endorsing Collapsed Memecoin LIBRA
The controversy surrounding memecoins has recently reached the political arena. Argentine President Javier Milei is currently facing demands for impeachment following his endorsement of the Libra (LIBRA) memecoin, a Solana-based token.
Milei’s public support increased LIBRA’s value from near zero to $5 per token. This briefly created a market valuation of around $4 billion. However, the token’s value collapsed shortly afterward due to massive selling, causing investors to lose millions of dollars.
Critics accused Milei of participating in a “rug pull,” a scheme where token creators or promoters drive up a token’s price and then quickly sell their holdings. This often leaves ordinary investors with worthless tokens. Milei strongly denied these accusations. He defended his actions, stating that endorsing projects like LIBRA is consistent with his free-market economic philosophy.
