The Block reported that on-chain analyst ZachXBT claimed that LAB, which recently surged, also saw insiders control over 95% of the token supply before driving up its price. LAB has risen by over 880% in the past month. ZachXBT presented evidence such as discounted over-the-counter (OTC) sales, hidden supply, and exchange-linked market making, urging platforms like Bitget, Binance, and Gate to freeze insider profits. He also emphasized, "This criticism of LAB is not a call to short. As insiders hold most of the supply, there is still ample room for further price increases." ZachXBT has been identifying tokens suspected of market manipulation since last month and has continuously raised suspicions of LAB's market manipulation since this month. Previously, after raising suspicions of market manipulation by LAB token founder Boba Sadkoff, he offered a $10,000 bounty to secure evidence.
