TechFlow reports, on July 12, on-chain detective ZachXBT stated that within the past 48 hours, an associated address initially funded by the LAB team deposited 18.4 million LAB into Aster, and continued to sell off on decentralized exchanges, causing the LAB price to fall from $1.2 to $0.55, a cumulative decline of approximately 54%.
Investigations show that the entity received over 196 million LAB from the LAB team in April 2026, subsequently transferred in batches to Bitget-related deposit addresses, and withdrew from Bitget to 10 addresses in mid-May, afterwards remained dormant for an extended period, until transferring to Aster again this week. ZachXBT stated that the entity currently still holds approximately 81.5 million LAB.
Additionally, ZachXBT reiterated that he had previously questioned the LAB team regarding issues such as opacity in private sales and OTC transactions, unilateral adjustments to vesting arrangements, and highly concentrated supply, and expressed disappointment over relevant trading platforms failing to take measures against suspected market manipulation.
