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DefiTuna has severed ties with an investor and accused M3M3, along with Meteora’s leadership, of orchestrating a $200 million market manipulation scheme that exploited memecoin launches.
On February 17, 2025, DefiTuna founder Moty Povolotski publicly disclosed that the project had severed ties with Kelsier, an investor who had contributed $30,000 to the project in January. The decision came after suspicions arose regarding Kelsier’s involvement in market manipulation schemes linked to LIBRA, MELANIA, and the meme coin launchpad platform M3M3.
Povolotski stated,
“DefiTuna accepted an investment from Kelsier with a size of $30,000 which put Kelsier as the 2nd smallest investor in DefiTuna back in January 16, 2025. Upon finding out about Kelsier's activities we have refunded Kelsier and cut all ties.”
Following the announcement, Povolotski outlined a series of allegations implicating M3M3 and its affiliated entities in structured market manipulation. According to him, Kelsier was involved in an organized effort to extract large sums from memecoin launches on M3M3.
Additionally, he claimed that Meteora’s leadership, including its co-founder Ben, facilitated a...
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