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ZachXBT accuses the LAB team of manipulating their token prices on CEX.
Golden Finance reports that on May 7th, on-chain investigator ZachXBT and Specter stated that the team behind the LAB token, LABtrade_ and its founder vsadkovv, have been holding a large amount of tokens centrally and frequently engaging in “pump and dump” style price manipulation on centralized exchanges. Such behavior occurs almost weekly and harms retail investors’ interests.
ZachXBT said he privately contacted the other party but received no response, and he pointed out that the founder posts “philosophical thoughts” on social media while participating in manipulation trades. He stated that such behavior is further undermining the overall credibility of the crypto industry.