ZachXBT once again accuses the LAB project of market manipulation, harming retail investors, with over 95% of the tokens being held by whales

BlockBeats News, May 14th, on-chain detective ZachXBT once again published a lengthy article exposing the LAB project and its founder (@vsadkovv). The LAB token surged to a $6 billion fully diluted valuation (FDV), but its background is highly opaque. The team was founded by Vova Sadkov and Mark, and their previous Eesee project left many investors dissatisfied. Currently, LAB's circulating supply data is chaotic, the official token distribution is not clearly disclosed, there is significant overlap between investors and trading platforms, and most importantly: insiders likely control over 95% of the tokens, with retail investors being completely unaware of the actual circulation.

Furthermore, the LAB team unilaterally changed the public sale lock-up period from 3 months to 9 months, while also owing marketing expenses, providing special treatment to KOLs and whales, and requesting posts for promotion. The founders mixed project funds with personal accounts, with a large sum of funds directly entering the trading platform's deposit address. Insiders can sell off tokens without the knowledge of retail investors. On-chain data shows that insiders recently withdrew hundreds of millions of LAB tokens from the exchange, worth hundreds of millions of dollars, following a similar modus operandi to several previously manipulated projects.

ZachXBT called on the exchanges to conduct a thorough investigation and delist or freeze the relevant funds. Additionally, ZachXBT expressly stated: this is not a short recommendation. With such high supply control, shorting becomes the fuel.