ZachXBT accuses LAB of ongoing manipulation, criticizes exchanges for inaction

On-chain analyst ZachXBT has pointed out that the LAB token, already under suspicion for price manipulation, continues to be manipulated on major centralized exchanges (CEX) through market makers. He expressed disappointment that major exchanges are allowing the situation to persist. ZachXBT warned of the potential consequences when locked LAB tokens from over-the-counter (OTC) deals, private sales, and airdrops enter the market, noting that insiders control the vast majority of the circulating supply. He explained that retail investors might be misled into buying LAB, mistakenly believing it to be a safe investment due to its listings on major exchanges, appearance on trending lists, and high market capitalization. He reiterated his advice against trading such tokens. Previously, Moonrock Capital founder Simon Dedic called LAB a "clear scam" and accused exchanges like Gate.io, KuCoin, and Bitget of facilitating the price manipulation. ZachXBT has also previously offered a $10,000 bounty for information on the matter and called on Bitget, Binance, and Gate.io to freeze insider profits for redistribution to investors and to delist the token.