TechFlow reports on March 27 that on-chain investigator ZachXBT posted on social media warning of potential risks associated with certain sponsors ahead of the upcoming Token 2049 conference. Among them, title sponsor Spacecoin is suspected of bot manipulation, while platinum sponsors including Bitunix and DWF have been flagged as suspicious entities.
ZachXBT emphasized that basic due diligence for centralized exchanges should include verifying whether team members are publicly identifiable and possess legitimate industry experience.
He also reminded that in late 2023, JPEX, a former platinum sponsor of Token 2049, was arrested by Hong Kong police over alleged fraud involving more than $100 million.
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