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

On-chain detective ZachXBT has released a lengthy article exposing the LAB project and its founder (@vsadkovv). The LAB token has surged to a $6 billion FDV, but the situation is very opaque.The team was founded by Vova Sadkov and Mark, whose previous Eesee project left many investors dissatisfied. Currently, the circulation data for LAB is chaotic, with Coingecko, RootData, and CMC reporting different circulation figures. The official team has not clearly disclosed the token distribution, and there is a significant overlap between investors and trading platforms. Most critically, insiders likely control over 95% of the tokens, leaving retail investors 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, providing special treatment to KOLs and whales, and requiring them to post promotional content. The founder has mixed project funds with personal accounts, with large amounts of money directly entering the trading platform's recharge address. Insiders can sell off tokens without retail investors being aware.On-chain data shows that insiders recently withdrew over 100 million LAB from trading platforms, worth hundreds of millions of dollars, using tactics similar to those seen in previously manipulated projects. ZachXBT calls for trading platforms to conduct a thorough investigation and delist or freeze related funds. Furthermore, ZachXBT specifically states: this is not a short-selling recommendation. With such high supply control, short-selling instead becomes fuel.

Websea has received strategic investment from a Middle Eastern family fund, with the resumption of withdrawals imminent, marking the beginning of a new development phase

According to the official announcement, the digital asset trading platform Websea has reached an investment intention with a strategic investor and will officially open withdrawals on May 18 at 16:00 (UTC+8), while also announcing specific withdrawal arrangements.It is reported that this strategic investment comes from a family fund in the Middle East. Both parties have conducted multiple rounds of in-depth communication on core issues such as the platform's asset status, business structure optimization, recovery path design, and long-term development planning, ultimately reaching a consensus for cooperation. Currently, the investor is advancing the capital injection process according to procedures, while simultaneously carrying out final confirmation work such as legal review, agreement signing, and equity arrangements.Websea CMO Herbert R. Sim stated that Websea has gone through an exceptionally difficult time, but in the face of many doubts from the industry, the platform team members have been working silently and have finally welcomed new life. He believes that this test is both a challenge and an opportunity for the platform. He also mentioned that with the entry of the investor, the platform will publish proof of reserves (Proof of Reserves, POR) and conduct regular disclosures to further enhance user asset transparency and market confidence. The platform will also continue to optimize its product structure and ecological mechanisms to promote long-term stable development.
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