ZachXBT: Addresses Suspected to Be Linked to LAB Team Sell $18.3 Million Worth of LAB, Token Price Plunges 54% in Two Days

On-chain investigator ZachXBT has published a post stating that over the past 48 hours, an entity originally funded by the LAB team deposited 18.4 million LAB tokens (worth roughly $18.3 million) into Aster and has been continuously selling them on decentralized exchanges (DEXs). This has caused LAB’s price to crash from $1.2 to $0.55, a total decline of 54%. ZachXBT noted that the entity received more than 196 million LAB tokens from the LAB team in April 2026, and gradually transferred these tokens to multiple Bitget deposit addresses. In May, it withdrew around 100 million LAB from Bitget to 10 separate addresses. Since market data at the time showed no independent buyer building such a large position, ZachXBT believes these addresses remain controlled by the same entity. The tokens in question had remained dormant until July 10–11, when they began being transferred to Aster for sale. Currently, the entity still holds approximately 81.5 million LAB tokens. ZachXBT also pointed out that in May this year, he released an investigation accusing the LAB team of opaque private placement lending and over-the-counter (OTC) transactions, unilaterally modifying token unlock rules, controlling over 95% of the token supply, and engaging in abnormal market making practices. He argued that LAB plunged this week amid market rumors ahead of unlocks, while the team only attributed the price drop to a “large market participant”. Additionally, he criticized Bitget, Binance, and Gate for failing to take action against the relevant market manipulation, leading to user losses.