TechFlow, July 22 — According to on-chain investigator ZachXBT, crypto KOL Crypto Beast is suspected of manipulating the price of the ALT token on July 14, causing it to plummet from $0.19 to $0.003, crashing the market cap from $190 million to $3 million.
ZachXBT's on-chain analysis revealed that Crypto Beast had previously actively promoted the ALT token, and over 45 associated insider wallets collectively sold more than $11 million worth of tokens. The wallet address publicly shared by Crypto Beast traces back to a Celestia address that transferred funds to multiple exchanges—including Kucoin, Sideshift, Binance, and HTX—to finance sidechain wallets.
ZachXBT stated that Crypto Beast deleted all posts promoting the token after the crash and had previously denied involvement in the price collapse.
