On-chain investigator ZachXBT has accused the founder of the LAB project of engaging in market manipulation on a centralized exchange, causing significant harm to retail investors. According to ZachXBT, on-chain evidence reveals that the founder's wallets deposited substantial amounts of LAB tokens into the exchange before a sharp price increase, suggesting a pump-and-dump scheme. The investigation indicates that the team controlled a large portion of the circulating supply, exacerbating the impact on the market. ZachXBT also noted that attempts to privately address these concerns with the founder were ignored, prompting the public disclosure of these findings. The allegations highlight ongoing concerns about transparency and ethical practices within the cryptocurrency market.
ZachXBT Accuses LAB Founder of Market Manipulation
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