ZachXBT: Suspected LAB Team-Associated Address Sells $18.3 Million LAB, Leading to a 54% Price Drop in Two Days

BlockBeats News, July 12, On-chain investigator ZachXBT posted that in the past 48 hours, an entity associated with LAB, initially funded by the LAB team, deposited 18.4 million LAB into Aster (equivalent to $18.3 million) and continued to sell on the DEX. This led to the LAB price dropping from $1.2 to $0.55, with a total decline of 54%.

ZachXBT stated that this entity received over 196 million LAB from the LAB team in April 2026 and then transferred it to multiple Bitget deposit addresses. In May, about 100 million LAB was withdrawn from Bitget to 10 addresses. Since market data at the time did not show any independent buyer establishing such a large position, he believed that these addresses were still controlled by the same entity. The relevant tokens remained dormant until they started moving to Aster for sale on July 10th and 11th. Currently, the entity still holds approximately 81.5 million LAB.

ZachXBT also pointed out that he had released an investigation in May this year, accusing the LAB team of opaque private placements, OTC trading, unilateral changes to unlocking rules, controlling over 95% of the token supply, and abnormal market-making behavior. He believed that LAB's sharp drop in price this week, just before the rumored unlock, was only explained by the team as a "large market participant." Furthermore, he criticized Bitget, Binance, and Gate for not taking action against the related market manipulation, which harmed user interests.