Meteora Co-Founder Resigns After Controversial Memecoin Accusations

Meteora, a prominent player in the cryptocurrency space, recently announced that the X account of its co-founder, Ben Chow, had been compromised. The hack occurred after the account posted a controversial statement accusing the founders of several memecoin projects of parasitic behavior. The post reignited a long-standing controversy surrounding the launch of memecoin tokens such as Libra (LIBRA), Melania Meme (MELANIA), and Official Trump (TRUMP), ultimately leading to Chow's resignation from Meteora.

On March 11, Chow's X account published an "official statement" detailing his departure from Meteora. In the post, Chow criticized the founders of DefiTuna, Vlad Pozniakov and Dhirk, alleging that their primary goal was to extract as much money as possible from various memecoin token launches, including MELANIA, Mates (MATES), and a Raydium launch. Chow expressed his disillusionment with the memecoin space, stating that his resignation was due to his trusting nature in an environment he described as "parasitic."

Meteora's official X account quickly flagged the post as fraudulent, asserting that Chow's account had been compromised. The company urged users to avoid clicking on any links shared from the compromised account to prevent potential financial losses. The fraudulent tweet was subsequently deleted after Meteora regained control of the account. Chow did not respond to requests for comment regarding the incident.

The controversial post included alleged screenshots of WhatsApp conversations between key figures in the memecoin space, including Kelsier Ventures CEO Hayden Davis, Kelsier Ventures' chief operating officer Gideon Davis, and Pozniakov. The conversations purportedly discussed the MATES token, with one participant quoted as saying, "Yeah fellas tbh we are trying to max extract on this one." However, the authenticity of these conversations could not be verified.

Meteora's co-founder Zen, who has since taken over the role of CEO, confirmed that the company's X account was also briefly compromised. Zen stated that the account had been reset and was undergoing verification to ensure its security. Investors were advised to exercise caution and avoid clicking on any links shared from the compromised accounts to mitigate the risk of financial losses.

This incident highlights the ongoing challenges and risks associated with memecoin projects and the broader