ZachXBT Accuses Bitget Stakeholder of Enabling Scams on the Platform
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Blockchain investigator ZachXBT accused Bitget and individuals Shawn Liu and Gracy Chen of enabling repeated CEX exploits and inflating LAB token prices to bait retail. He flagged an on-chain withdrawal of 100 million LAB (about $480.33 million), equal to 32.26% of circulating supply, raising security, liquidity and market-manipulation concerns for the exchange and the token. The allegations and community backlash risk harming adoption, trust and price performance.
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- ZachXBT says Shawn Liu and Gracy Chen are behind the repeated platform exploits.
- According to ZachXBT, Bitget inflated LAB’s value to bait retail before the exploit.
- Bitget supporters called ZachXBT a racist for calling out the cryptocurrency exchange.
Renowned blockchain investigator, ZachXBT, has launched an attack on Bitget over a recent exploit on the centralized exchange. ZachXBT accused the exchange of inflating LAB’s value to bait retail. He likened the situation to CEXs bundling 90%-plus in meme coins with low liquidity, and any notable sell would nuke the chart.
Bitget is Involved in Another Exploit
ZachXBT made the allegation while discussing the latest exploit on Bitget involving the withdrawal of 100 million LAB, equivalent to $480.33 million, reflecting 32.26% of the crypto token’s circulating supply. The on-chain investigator accused the BGX …
Read The Full Article ZachXBT Accuses Bitget Stakeholder of Enabling Scams on the Platform On Coin Edition.
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