BlockBeats News, May 7th, on-chain detective ZachXBT accused the founder of the LAB project (@vsadkovv) of conducting market manipulation on a CEX, severely harming the interests of retail investors. ZachXBT cited on-chain evidence showing that the founder's associated wallet deposited a large amount of LAB tokens to the exchange in advance, following which the price was artificially pumped. This was deemed a classic pump and dump operation, with the team effectively controlling a significant portion of the circulating supply.
ZachXBT claimed to have privately contacted the founder in an attempt to communicate, but was blatantly ignored.
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