Blockchain investigator ZachXBT said a LAB-linked address that was originally funded by the LAB team deposited 18.4 million LAB to Aster over the past 48 hours and kept selling on decentralized exchanges. During that stretch, LAB fell from $1.2 to $0.55, a drop of about 54%.
According to ZachXBT’s investigation, the entity received more than 196 million LAB from the LAB team in April 2026. The tokens were then moved in batches to Bitget-related deposit addresses. In mid-May, the funds were withdrawn from Bitget to 10 addresses, which then stayed dormant for an extended period before transfers to Aster resumed this week.
ZachXBT said the entity still holds about 81.5 million LAB. He also repeated earlier concerns about the LAB team, including opaque private placements and over-the-counter deals, unilateral changes to vesting arrangements, and a highly concentrated token supply. He added that he was disappointed relevant trading platforms had not acted on what he described as suspected market manipulation.
On July 12, blockchain investigator ZachXBT said a LAB-linked address that had been initially funded by the LAB team deposited 18.4 million LAB into Aster over the past 48 hours and kept selling on decentralized exchanges. LAB fell from $1.2 to $0.55 during that period, a decline of about 54%.
Token transfers traced from the LAB team
ZachXBT said the entity received more than 196 million LAB from the LAB team in April 2026. The tokens were later moved in batches to Bitget-related deposit addresses, then withdrawn from Bitget to 10 addresses in mid-May.
Those addresses stayed dormant for a prolonged period before transfers to Aster resumed this week. ZachXBT said the entity still holds about 81.5 million LAB.
Earlier concerns raised again
ZachXBT also reiterated concerns he had previously raised about the LAB team, including opaque private placements and over-the-counter transactions, unilateral changes to vesting arrangements, and a highly concentrated token supply. He said he was disappointed that relevant trading platforms had not taken action over what he described as suspected market manipulation.
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