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ZachXBT: Most of imToken's trading volume comes from "pig-butchering schemes" and scams in illegal markets
ChainCatcher News, “On-Chain Detective” ZachXBT posted on X platform, publicly criticizing Tokenlon and imToken, claiming they have become high-risk channels for illegal fund flows, and stating that further actions will be taken against the related platforms.
It is alleged that most of Tokenlon’s trading volume comes from “pig butchering” scams, investment fraud, and various illegal market activities, and he directly stated that co-founder Ben He should “bear legal responsibility for related behaviors.” He said that in the future, investigations and crackdowns on the Tokenlon and imToken systems will continue. Tokenlon has almost no genuine trading demand outside Southeast Asia, and a significant proportion of its on-chain activity is related to illegal fund flows, a problem that has noticeably worsened since 2022.
Additionally, ZachXBT also named several so-called “offshore large trading and aggregation platforms,” including Butter Network, HiFiSwap, Bridgers / SWFT, and Tokenlon, claiming they should be subject to stricter regulation and crackdowns due to potential criminal activities.