If you've been following the wild world of Solana meme tokens, you know things can get chaotic fast. But a recent thread from @StarPlatinumSOL on X has shed light on something particularly shady happening with Meteora's $MET token airdrop. Meteora, a popular liquidity protocol on Solana, launched their governance token $MET on October 23, 2025, with an airdrop meant to reward genuine users. Instead, it seems like a playground for sybil attackers and rug pullers who cashed out millions in hours.

The Sybil Whale: A $10M Extraction Operation

Let's break it down starting with the biggest fish – or should I say, whale. The thread highlights a sybil attacker (that's when someone creates multiple fake accounts to game the system) who controlled at least two wallets that raked in over 16 million $MET tokens, worth around $10 million at launch prices.

The main wallet 3vAauDAR8er3HT8C3Vaj7WRbDoaoebi3KnvCdWuHj6ae received 12.7 million $MET, about $7 million. Its sidekick, 2zVx7US4pqQCmFjjr2ujZKmY3kk5xdkXg6m7QBSq89Qf, got 3.6 million more. These weren't organic users; no real history or activity. Proof they're connected? Transfers of 306,960 $RAY and 1,000 $USDC between them, plus claiming and selling the airdrop in the same tight window – all dumped to OKX exchange within hours.

This kind of sybil farming isn't new in crypto, but seeing it on this scale in a major airdrop like Meteora's raises eyebrows. It's a reminder for projects to beef up their anti-sybil measures, like better wallet activity checks.

Connections to Meme Token Rug Pulls: $TRUMP and $MELANIA Teams

Here's where it ties directly into the meme token scene. The thread calls out wallets linked to the $TRUMP meme coin team on Solana. The developer wallet 5Q544fKrFoe6tsEbD7S8EmxGTJYAKtTVhAW5Q5pge4j1 snagged about 1.8 million $MET. Early liquidity providers for $TRUMP pools, like EzvX3mR6vYp8kQjZfL9nT2uW4xB7cD1eF5gH8iJ0kM3nP and KpL7mN9oQ2rS4tU6vW8xY1zA3bC5dE7fG9hJ2kL4mN6oP, each got around 1.2 million tokens.

They routed everything through an exit wallet 3UMTJEfhSa5fRsSGXfhxnWNBe3sWWzDUsAo1CrrroDcG and dumped it all within 30-60 minutes. Sound familiar? It's the classic rug pull playbook: farm rewards, claim, dump, vanish.

Similarly, wallets tied to the $MELANIA meme token – another politically themed Solana gem – pulled in about $1.23 million worth. Liquidity provider 4QhX5uDJBQ7XGNkLUPiEhUZ6W4X2s9vXASkj3NcNYJxy got $784K in $MET, pre-funded with $200K USDC. The second one, 3XKscer6GYCzdejGmKUFJmJHHkuBfAC8nu7ojMpt6uKu, scored $454K. Funds flowed to an exit router Cq2TjX8YpQvW2rE4sF6gH9iJ1kL3mN5oP7qS9tU2vX4zA6bC8dE0fG2hI4jK6lM8nO0pQ2rS4tU6vW8xY0zA2bC before the inevitable dump.

These meme tokens, often launched with hype around figures like Trump or Melania, have been notorious for quick pumps and rugs. Seeing their teams farm a legit project's airdrop adds another layer to the meme coin drama.

The Kelsier Ventures Cluster: 300+ Wallets in Action

Not stopping there, the thread exposes a massive cluster from Kelsier Ventures – over 300 wallets that were blacklisted by Meteora but still managed to farm. Examples include DefcyKc4yAjRsCLZjdxWuSUzVohXtLna9g22y3pBCm2z, Gr3eiFhPfLAaA4SSHYqan8hcBB9dHLxRC176tfRtS4eb, and others. Their MO? Enter early, farm points, claim airdrop, dump to centralized exchanges (CEXs) like OKX.

According to the post, these operations have extracted over $116 million in 2025 alone across various projects. In $MET's case, 15.4 million tokens were distributed to these bad actors, with $14 million sold in under six hours, crashing the price by 40-70%.

What This Means for Solana Meme Tokens and Airdrops

This isn't just a hit on Meteora – it's a wake-up call for the entire Solana ecosystem. Meme tokens like $TRUMP and $MELANIA thrive on hype, but when their creators exploit protocols like this, it erodes trust. Genuine users who farmed organically got shortchanged, while extractors walked away rich.

The thread ends on a hopeful note, wishing Meteora a recovery and justice for real participants. Replies echo the sentiment, with users like @letsfknbetonit calling out more ruggers who benefited, and others lamenting the endless "crime szn" in crypto.

If you're diving into Solana memes or farming airdrops, always DYOR (do your own research). Check wallet histories on tools like Solscan and stay wary of too-good-to-be-true opportunities. Meteora's still a solid protocol for liquidity – hopefully, they tighten up for future drops.

For more insights on meme token drama and Solana news, stick with Meme Insider. What's your take on this airdrop fiasco? Drop a comment below!