LAB token has plummeted 98.5% in what appears to be a coordinated exit scam, with manipulation primarily routed through Bitget exchange, according to on-chain investigator ZachXBT, who suspects potential collusion between the exchange and the project team.
ZachXBT's analysis indicates that the token's collapse followed a pattern consistent with coordinated market manipulation rather than organic sell pressure. The investigator has flagged Bitget's role in facilitating the suspicious trading activity, raising questions about the exchange's operational oversight and whether leadership was complicit in enabling the scheme.
The incident adds to growing scrutiny of smaller exchange platforms' ability to prevent fraud and protect retail investors. LAB's near-total erasure of value underscores the elevated risks in tokens listed on less-regulated trading venues, particularly where project teams maintain close relationships with exchange operators.