ZachXBT exposes the $LAB crash scandal: team controls 95% of tokens, colluding with KOLs to fleece retail investors

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Author: HIBIKI, Crypto City ZachXBT releases latest investigation into LAB token market manipulation In early May this year, a niche AI-concept token, LAB, suddenly surged over 500% before plummeting 84%. The incident caught the attention of on-chain sleuth ZachXBT, who alleged clear signs of artificial price manipulation. He has been tracking the case closely and even offered a bounty for whistleblowers to provide evidence. Last night (5/14), ZachXBT published his latest findings, exposing the internal team behind the LAB token, transactions involving crypto KOLs, and malicious market manipulation coordinated with market makers. Allegation 1: Insiders control over 95% of the supply ZachXBT’s on-chain analysis indicates that LAB insiders likely control over 95% of the token supply. The project was founded by Vova Sadkov and Mark in October 2025. Their previous project, Eesee ($ESE), has since gone dormant, with its price effectively dropping to zero from its peak. Currently, there is no clear information on LAB token distribution in the market. Circulating supply figures reported by various platforms differ, and official documentation provides no details. According to Vova Sadkov, the project is supported by institutions including Lemniscap, OKX, Animoca, GSR, Gate, Kucoin, Mirana, and Amber. Since the launch of the LAB token, there have been only a few non-insider transfers exceeding $150,000 on-chain. Nearly 69% of the total LAB supply remains outside of circulation, posing a hidden threat of potential dumping at any time. Allegation 2: Quid pro quo between crypto KOLs and the LAB team ZachXBT alleges that since January 2026, the LAB team began offering OTC deals and lending contracts to specific individuals. Co-founder Mark reportedly solicited OTC buyers in public groups, with some receiving offers such as loans with 5% monthly interest and 60% discounts on OTC deals with a 5-month lock-up period. ZachXBT also discovered a private contract for a 6-month loan with a 7.5% monthly interest rate, signed by The Lab Management Ltd., a shell company represented by Vova Sadkov. The contract stipulates that in the event of default, repayment must be made in LAB tokens at market price. The borrower wallet in this contract is the same as the address used for public LAB buybacks and is linked on-chain to another loan involving Wildcat. There were even proposals offering KOL capital discounts of up to 80%, requiring KOLs to post multiple times in support of the project before unlocking, or face blacklisting. ZachXBT emphasized that these agreements with crypto KOLs created a hidden supply invisible to retail investors, and the team unilaterally extended the public sale unlock period from 3 months to 9 months. Allegation 3: LAB team exploits centralized exchanges ZachXBT stated that between March and April 2026, insiders deposited as many as 226 million LAB tokens into the Bitget exchange. The tokens remained dormant until May 11-12, when nearly 100 million tokens were withdrawn from Bitget to 10 new addresses; these assets were worth approximately $480 million at the time. Spot trading activity for the LAB token primarily originates from the Bitget exchange, while Binance and Gate were also used for operations. Fund flows show that capital directly related to LAB eventually flowed into Vova Sadkov’s personal accounts on Bybit and Gate, showing an abnormal commingling of corporate and personal funds. ZachXBT also pointed out that an unknown market maker operating through Chinese exchanges is likely executing a playbook previously used for tokens such as RIVER, RAVE, SIREN, MYX, and SKYAI. Additionally, several signatories of the LAB team’s multi-sig wallets received funding from an insider linked to the RIVER token manipulation case, an individual who previously transferred over $12 million in RIVER tokens into two centralized exchanges. Following ZachXBT’s post, the LAB token plunged another 40% in the last 24 hours. However, he strongly advised against participating in or shorting the token, as with the internal team controlling a massive amount of tokens, reckless shorting could simply become fuel for a malicious short squeeze. ZachXBT calls on three exchanges to step up Finally, ZachXBT named Bitget, Binance, and Gate, calling on the platforms to freeze insider profits and redistribute them to users, or to delist the token early. ZachXBT had criticized the Bitget exchange just this week, describing them as a "Chinese CEX cartel." He claimed that while the CEO is Gracy Chen, the true founder and chairman is Shawn Liu,

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Source:區塊客

Published:2026-05-15 01:00:26

Category:bearish · Export Category bearish

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