ZachXBT: LAB has plummeted 85% in 24 hours, trading this token is not recommended

On-chain investigator ZachXBT posted that the LAB token has dropped from $14 to less than $2 in the past 24 hours, a decline of about 85%, with the fully diluted valuation (FDV) significantly shrinking from about $14 billion.

ZachXBT expressed disappointment that Binance, Bitget, and Gate failed to take measures in advance to prevent price manipulation, stating that if centralized exchanges truly valued user interests, they should at least return the profits from accounts suspected of manipulating the market to the users. He also pointed out that LAB investors were originally scheduled to start unlocking tokens later this month, but the vesting arrangements have been modified multiple times before, with insiders controlling almost the entire circulating supply and implementing extreme price manipulation through market makers on centralized exchanges. Therefore, he "does not recommend trading LAB under any circumstances."