Meteora Co-Founder’s X Account Hacked Amid Meme Coin Scandal
The controversy surrounding Meteora intensified after co-founder Ben Chow’s X account posted a now-deleted statement exposing alleged insider trading in the meme coin industry. The post accused key players, including DeFiTuna members, of exploiting meme coin launches for personal gain. Meteora swiftly disavowed the statement, claiming Chow’s account was compromised.
Hack Confirmed: Are The Allegations True?
Meteora’s official X account confirmed unauthorized access but stated that control had been restored. The hacked post included alleged evidence of insider trading involving tokens like Libra (LIBRA), Melania Meme (MELANIA), and Official Trump (TRUMP).
Co-founder Meow reaffirmed confidence in Meteora and Jupiter’s integrity, announcing an independent investigation to address the accusations. The firm also retained legal counsel to oversee the probe.
Meme Coin Post Sparks Political Fallout
On March 11, Chow’s account posted an “official statement” claiming he had resigned from Meteora due to internal corruption. The message accused DeFiTuna’s Vlad Pozniakov and Dhirk of predatory practices, citing insider wallet activity. It also implicated Kelsier Ventures CEO Hayden Davis and COO Gideon Davis, referencing WhatsApp messages allegedly detailing profit-extraction strategies.
Meteora quickly responded, urging users to disregard the post. Despite Chow’s silence, the firm confirmed it had regained control of his account.
Javier Milei’s LIBRA Endorsement Under Scrutiny
Beyond Meteora, the controversy took a political turn. Argentine President Javier Milei endorsed LIBRA, which skyrocketed in value before a massive sell-off erased millions. Critics accused Milei of participating in a pump-and-dump scheme, while he defended his stance as part of his free-market advocacy.
Milei’s involvement has sparked calls for impeachment, with detractors alleging financial misconduct. His endorsement of LIBRA is now under investigation as part of broader concerns over political figures influencing crypto markets.
What’s Next for Meteora?
Meteora co-founder Meow confirmed that Fenwick & West had commissioned an independent third-party investigation. Meanwhile, Ben Chow has officially resigned, and the company is seeking new leadership.
As the investigation unfolds, the crypto community awaits further clarification from Meteora, while the industry grapples with the growing intersection of politics and financial speculation.
