Moonrock Capital founder: LAB is an obvious scam aided by major exchanges

Simon Dedic, founder of crypto venture capital firm Moonrock Capital, has asserted that the cryptocurrency LAB is a "laughably obvious scam" that appears to be operating without any penalties. "What's more disappointing is that major exchanges like Gate.io, KuCoin, and Bitget are also condoning and abetting this behavior for short-term profit," he pointed out. Dedic explained that LAB's price chart clearly shows suspicious market makers artificially inflating its value to lure in retail investors and extract their liquidity. He argued that such manipulation would require the cooperation of centralized exchanges (CEXs), as the costs would be prohibitive without fee-exempt accounts. Dedic stressed that exchanges assisting scam projects harms the entire industry and demonstrates a lack of morality. LAB's price more than doubled last week, with its fully diluted valuation (FDV) reaching $8.6 billion and now standing at approximately $10.5 billion. According to CoinGecko, this FDV places LAB 12th in the overall cryptocurrency market. For comparison, the market capitalization of South Korean firm Hyundai E&C is currently 15.69 trillion won, while LAB's FDV is valued at about 15.88 trillion won ($10.5 billion).