On February 18, the founder of DeFiTuna, Moty, publicly announced on the X platform that he has fully refunded the $30,000 investment from his investor Kelsier Ventures (LIBRA token issuance advisor) and severed all ties. Kelsier had invested in DeFiTuna in January 2025. Kelsier is currently embroiled in major allegations of market manipulation involving the LIBRA, MELANIA, and M3M3 issuance platforms. Moty revealed a series of organized token manipulation activities by Kelsier.
Moty made the following allegations against Kelsier: Kelsier participated in the structural capital extraction plan of the meme issuance on the M3M3 platform; the leadership of Meteora, including co-founder Ben, condoned actions that harmed the community's interests; despite directly contacting Meteora's core members, they lacked accountability; Ben promised to step down after being questioned but issued a vague public response. Moty stated: "I am betting my personal reputation and the DeFiTuna project to push for the exposure and removal of the wrongdoers. Kelsier had contacted DeFiTuna through his Lebanese employee Thomas, requesting liquidity support for the M3M3 platform."
The key details disclosed by Moty include: M3M3 was initially packaged as an independent platform, but was actually controlled by Meteora co-founder Ben; projects listed on M3M3 were required to allocate token shares to Kelsier's team; DeFiTuna co-founder Vlad was a passive participant, mistakenly believing the collaboration was legitimate.
Regarding the behind-the-scenes manipulation of the MATES project: Kelsier demanded that DeFiTuna manage the liquidity for MATES, the first project on M3M3; after the MATES token launch, it crashed 95%, and a screenshot on February 18 showed the team discussing "maximizing capital extraction"; Hayden Davis (Kelsier's founder) instructed: "We need to extract the maximum value from this project, regardless of the founders' character."
Regarding the behind-the-scenes manipulation of the MELANIA token: One hour before the MELANIA token launch, Kelsier pre-sent the token address to Vlad and informed him that Trump would retweet; from the liquidity wallet, 1% of the tokens (peak value of $100 million) were transferred to Vlad; Hayden demanded anonymous sell-off of all positions, using Orca platform LP token Non-Fungible Tokens (NFTs) to avoid on-chain tracing.
Kelsier's team extracted $2.45 million from the community just through the MATES and AIAI projects, and over $200 million in total from projects like MELANIA, LIBRA, and ENRON. Moty estimated that through projects like AIAI, MATES, ENRON, MELANIA, and LIBRA, Kelsier's team had extracted over $200 million in user funds.