Meteora co-founder Ben Chow is being accused of masterminding alleged schemes behind at least 15 memecoins, including the MELANIA and LIBRA tokens.

The $MELANIA memecoin, quickly surged then crashed soon after launch, with its developers facing allegations of dumping the tokens. Similarly, LIBRA marketed as public funding for small businesses in Argentina soared before plummeting within hours.

Argentine President Javier Milei initially promoted LIBRA through his personal account but later deleted the post following the token's collapse.