ZachXBT once again accuses the LAB project of market manipulation that harms retail investors, with over 95% of tokens already controlled.

BlockBeats news, on May 14, on-chain investigator ZachXBT published another long article exposing the LAB project and its founder (@vsadkovv). The LAB token has skyrocketed to a $6 billion FDV, but there is extreme lack of transparency behind it. 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, with the official team failing to clearly announce the token allocation. There is a high degree of overlap between investors and exchanges, and most crucially: insiders are likely controlling over 95% of the tokens, while retail investors are completely unaware of the true circulation situation.

Additionally, the LAB team unilaterally changed the public sale lock-up period from 3 months to 9 months while also defaulting on marketing fees, gave KOLs and whales special treatment and required them to make promotional posts. The founders mixed project funds with personal accounts, with large amounts of funds going directly to exchange deposit addresses. Insiders could sell off tokens while retail investors are completely in the dark. On-chain data shows insiders recently withdrew hundreds of millions of LAB tokens from exchanges, worth several hundred million US dollars, and the tactics are similar to previously manipulated projects.

ZachXBT calls on exchanges to conduct thorough investigations and delist or freeze the relevant funds. In addition, ZachXBT specifically states that this is not a short recommendation. With such a high degree of supply control, shorting instead becomes fuel.