Did you see that LIBRA launched a week ago with backing from Argentinian President Javier Milei? He initially made several posts supporting it but later deleted them, withdrawing his endorsement.
It turns out there’s a good explanation. A group of so-called grifters, mostly based in Los Angeles, USA, known as Vape Cabal on “Crypto X,” used the launch to manipulate the market and successfully extracted millions.
Dear god
Javier Milei’s $LIBRA drained over $280 MILLION USD from nearly 75,000 individual traders. Just look at these numbers: from 1000s to 10s of 1000s to MILLIONS of dollars… rug-pulled in hours. Scam of the century in Argentina. pic.twitter.com/KGELU8wgXT
— David Adler (@davidrkadler) February 17, 2025
Kelsier Ventures, Aka Hayden Davis Behind The LIBRA Scam?
Shortly after Libra launched, it hit a $4.6 billion market cap as Javier Milei showed support. Speculators hoped it would mimic Trump token’s initial success, but the price crashed 97% within hours, dropping to a $150 million market cap. Investors lost everything as insiders executed a scam, hoarding supply and dumping on buyers.
An X account called Kelsier Ventures , run by Hayden Davis shared an explanation of the Libra situation, but it wasn’t entirely true. Leaked messages later showed him saying, “Yeah, we’re trying to max extract on this one, lads,” suggesting they planned to take as much money from retail investors as possible.
“Yeah fellas tbh we are trying to max extract on this one.”
– Hayden Davis pic.twitter.com/e3jL1ZUpvg
— Beanie (@beaniemaxi) February 18, 2025
Davis also went on several podcasts without a lawyer, making statements that only made him look worse. In short, he and his group, the LA-based “Vape Cabal,” have been scamming people in crypto, making hundreds of millions, if not billions.
In Libra’s case alone, they made $107 million—at least from what’s been uncovered.
Jail Time Incoming for Hayden Davis?
As Hayden Davis continues to incriminate himself on podcasts, more details about his crypto schemes are coming to light. It was revealed that he charged 1% of any project’s tokens he helped launch and admitted to sniping every launch he worked on. This means his real cut was likely 3-10%, increasing his profits.
In addition, he confirmed his involvement in the Melania and Trump tokens, even sharing contract details before launch with friends. With just those three projects, he and his group may have made billions—all while showing zero remorse for extracting wealth from retail investors.
But Davis didn’t just expose himself—he also threw Donald Trump under the bus. He claimed that, during a private dinner at Trump’s estate, insiders could buy Trump tokens at a $500 million market cap before launch. Since the token hit a $75 billion market cap, that’s a 150x return for those early buyers.
So, the big question: Will Hayden Davis face jail time, or has crypto crime become legal now?
EXPLORE: XRP Price Jumps 11% After SEC Crypto Unit Tease XRP ETF Progress
Join The 99Bitcoins News Discord Here For The Latest Market Updates
The post Libra Scam Unveils Vape Cartel: Insiders Like Hayden Dennis Raked In Billions! appeared first on 99Bitcoins.
