Odaily Planet Daily reported that a class action lawsuit accused Meteora founder Benjamin Chow of being the mastermind behind the "scam tokens" MELANIA and LIBRA, and claimed that former US First Lady Melania Trump and Argentine President Javier Milei were only used as publicity "props" and did not directly participate in the related activities.

The lawsuit stems from the case Hurlock v. Kelsier Ventures, and the defendants include Meteora, Chow, and its partner, Kelsier Ventures. The indictment alleges that the team manipulated at least 15 tokens through a "pump and dump" scheme, using the images of real public figures to package tokens and create liquidity traps. MELANIA and LIBRA were the most prominent examples.

The document alleges that Chow worked closely with Meteora co-founder Ng Ming Yeow and Kelsier Ventures CEO Hayden Davis to issue a batch of "pump tokens" using the Meteora brand and technical architecture. LIBRA, once touted as a way to support Argentinian small and medium-sized enterprises, and MELANIA, launched two days after Trump unveiled his official token. Both subsequently plummeted by over 90%.

The case is moving forward despite a court order in August to release $57.6 million in USDC funds tied to Libra and expressing skepticism about the plaintiffs' prospects of success. Chow resigned from Meteora in February. (Decrypt)