Concerns Raised Over LAB Project's Transparency and Token Control

Blockchain investigator ZachXBT has released a detailed report highlighting concerns about the LAB project and its founder, Vova Sadkov. According to ChainCatcher, the LAB token has surged to a fully diluted valuation of $6 billion, but the project's transparency is questionable. The project, founded by Vova Sadkov and Mark, has faced criticism due to its previous Eesee project, which left many investors dissatisfied. The current circulation data of LAB tokens is unclear, with no official disclosure of token distribution. There is significant overlap between investors and trading platforms, and insiders are suspected of controlling over 95% of the tokens, leaving retail investors unaware of the true circulation status. Additionally, the LAB team unilaterally extended the public sale lock-up period from three to nine months, delayed marketing payments, and provided special treatment to key opinion leaders and large investors, requiring them to promote the project. The founders have reportedly mixed project funds with personal accounts, with substantial amounts being transferred directly to exchange deposit addresses. Insiders can sell tokens without retail investors' knowledge. Recent on-chain data shows insiders withdrawing hundreds of millions of LAB tokens, valued at several billion dollars, from exchanges, using tactics similar to those in previously manipulated projects. ZachXBT urges exchanges to conduct thorough investigations and consider delisting or freezing related funds. He also clarifies that this is not a short-selling recommendation, as high supply control could fuel short positions.