The X account of Meteora co-founder Ben Chow was reportedly hacked on March 11, posting a controversial tweet that reignited the debate surrounding the launch of several high-profile memecoins, including Libra (LIBRA), Melania Meme (MELANIA), and Official Trump (TRUMP). These tokens, linked to questionable fundraising practices, had previously led to Chow’s resignation.

The compromised account issued an “official statement,” accusing DefiTuna founders Vlad Pozniakov and Dhirk of using memecoin launches to extract maximum funds. The tweet referenced token projects like MELANIA, Mates (MATES), and a Raydium launch, describing the memecoin sector as “parasitic.”

Shortly after, Meteora’s official X account confirmed the post was fraudulent, warning users not to engage with any links. The post was deleted after Chow regained control of his account.

The tweet also contained alleged WhatsApp messages implicating Kelsier Ventures executives in a scheme to maximize profits from memecoin launches. One quoted message reportedly stated: “Yeah fellas tbh we are trying to max extract on this one.” However, the authenticity of these messages remains unverified.

Meteora’s new CEO, Zen, revealed that the project’s official X account had also been briefly compromised. Security measures were implemented, and users were warned against interacting with suspicious posts.

The memecoin saga extends beyond Meteora, reaching the highest levels of politics. Argentine President Javier Milei is facing impeachment calls after endorsing the Solana-based LIBRA token, which skyrocketed to a $4 billion market cap before crashing. Accusations of market manipulation emerged, though Milei dismissed them, claiming he supports free-market initiatives.

This latest memecoin controversy highlights ongoing risks in the speculative crypto market, where hacks, questionable token launches, and political endorsements can cause massive financial turbulence.