The $LIBRA cryptocurrency, an Argentinian currency that was supported by their President Javier Milei, has caused a huge amount of loss for thousands of investors in the suspected “rug pull.” On X (formerly known as Twitter) a user on X, EnHeng (EnHeng456), associated with Zerobase, has launched a charitable campaign to support the victims. In the post, he announced a donation of $50,000 and asked others to join in and contribute as much as they could. According to the post, contributions will be made through Binance Smart Chain address.
Binance’s CZ Chimes In
These efforts by EngHeng drew attention of Binance’s former CEO Changpeng Zhao (CZ). Zhao then posted a comment on the X user’s post stating “Support! I will donate 150BNB to bring courage to those affected.” This action donation of 150BNB which is worth $100,000 talks about Binance’s history of philanthropy and disaster relief efforts within the crypto space.
User Thanks CZ and Explains Reasons for Using BSC
To this post, Enheng, thanked CZ for the contribution. Enheng decision to use BNB Smart Chain (BSC) for compensating $LIBRA scam victims, especially for those on Solana, strategically aligns with Binance’s values while prioritizing transparency and efficiency.
With the use of BSC, Enheng aims to build trust and ensure accountability and with this chain, the transactions would be transparent. This move could potential increase the use of the BNB Smart Chain in the future as well.
Charity Dinner to be Hosted as well
Moreover, EnHeng also stated that the funds will sponsor a charity dinner which will be aimed at providing financial relief and emotional support, prioritizing students impacted by the suspected rug pull of the $LIBRA token.
The user said that “This isn’t just a meal- its about rebuilding hope.” This effort shows that people from the community are coming together to fight back against financial scams. In the post, the user also urged people who want to help should send BEP-20 tokens to the provided BSC address.
The organizers want to give immediate help and want to push for stronger rules for Crypto to stop these scams from happening again in the future.
Insiders Made a Profit of Over $87 Million
The $LIBRA token which was endorsed by the Argentinian President had surged to nearly $5 before falling off to cents within hours. This led investors to be stranded and the community called this a classic “pump and dump” situation. It is being said that the insiders might have a profit of over $87 million.
Also Read: Meteora Co-Founder Denies Involvement in $LIBRA Project Amid Controversy
