Bitget Faces ZachXBT Firestorm After $480M LAB Withdrawals

ZachXBT slams Bitget execs over suspicious $480M withdrawals

Crypto sleuth ZachXBT claims that Bitget executives are allowing “scams to operate behind the scenes” after 10 new wallets withdrew $480 million worth of LAB from the exchange.  The staggering sum, which represented 32% of the LAB supply, was withdrawn over the course of 12 hours. The token’s issuer, also called LAB, is a crypto trading infrastructure firm that claims to boast an “AI research engine.” Fellow crypto investigator Specter Analyst c…

10 Fresh Wallets Pull 100 Million LAB Tokens Worth $480M From Bitget

Ten newly created wallets have withdrawn 100 million LAB tokens, worth approximately $480 million and representing 32% of the token’s circulating supply, from Bitget in a 12-hour window, adding fresh onchain evidence to an already active manipulation investigation. Exit...

Bitget Under Fire As $480m Withdrawal From Lab Sparks Allegations Of Coordinated Exchange Action

With a wave of suspicious on-chain transactions connected to Bitget, the crypto market is finding itself once again faced with accusations of lack of transparency and practices by centralized exchanges. Massive 500 million withdrawn from CEXs, abundant discussions about the potential “Price Manipulation” on Centralized platforms have reemerged. ZachXBT Dives Deeper into $LAB Token Scandal: Offers Bounty Following Market Manipulation Allegations …

Bitget Faces ZachXBT Firestorm After $480M LAB Withdrawals

Bitget is facing renewed scrutiny after Lookonchain reported that ten fresh wallets withdrew 100 million LAB tokens, worth about $480.33 million, from the exchange over a 12-hour window. The transfers represented 32.26% of LAB’s circulating supply, according to the on-chain tracker, adding fresh fuel to allegations from ZachXBT and other analysts that LAB trading activity has shown signs of coordinated market manipulation. The wallet activity co…