Analyst: DWF Labs is suspected to be a market maker for ESPORTS, with associated addresses having deposited approximately 13.9 million dollars worth of tokens to Kraken

According to on-chain analyst @ai_9684xtpa, the $ESPORTS token experienced a flash crash with a decline of 92%, suspected to be related to DWF Labs.

Five days ago, the address 0x7Ef…C10dD deposited 19.9 million ESPORTS (worth 13.9 million USD) to a Kraken address associated with DWF, and the upstream funds of that address are the token deployment address, which is also one of the addresses that contributed to this flash crash, having frequently sold tokens on-chain.