Zachxbt: An entity extracts 17.9 million LABs from Bitget to KuCoin

Wu stated that it had been informed that Zachxbt had indicated that on 13 July an entity had first extracted 17.9 million LABs (approximately $7.2 million) from Bitget to KuCoin, of which 5 million had subsequently been transferred out and sold through the Aster spot market, resulting in a short fall of LAB from $0.34 to $0.22, a decline of approximately 35 per cent. Since then, the entity has transferred 30 million LABs (approximately $8.3 million) from the Bitget hot wallet to another KuCoin filling address. Zachxbt considers it to be confusing the source by replacing the financial path. Zachxbt claims that the entity received over 196 million LABs from the LAB team in April this year。