ZachXBT: US$ 18.3 million sold on LAB, suspected LAB team affiliation, which dropped 54% on two days
On 12 July, the chain investigator, ZachXBT, wrote that in the past 48 hours, an associated entity, initially funded by the LAB team, had deposited 18.4 million LABs (approximately $18.3 million) into Aster and continued to sell them in DEX, resulting in a decline in the LAB price from $1.2 to $0.55, a cumulative decline of 54 per cent. ZachXBT indicates that the entity obtained more than 196 million LABs from the LAB team in April 2026 and moved to multiple Bitget filling addresses. In May, about 100 million LABs to 10 addresses were extracted from Bitget, which it considered to remain under the control of the same entity, since market data did not indicate that an independent buyer had established a warehouse of this size. Since then, the relevant tokens have remained dormant until 10-11 July, when they were transferred to Aster and sold, and the entity still holds approximately 81.5 million LABs. ZachXBT also stated that it had issued an investigation in May this year accusing the LAB team of non-transparent private lending and OTC transactions, unilateral revision of the unlocking rules, control over the supply of more than 95 per cent of currency and unusual market behaviour. According to LAB, this week, LAB collapsed on the eve of the market apologizing, and the team explained the reason only by "large market participants". In addition, he criticized Bitget, Binance and Gate for failing to take measures against the manipulation of the relevant market, which resulted in prejudice to user interests。
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