Link Between Four Altcoins Uncovered: All Four Are Alleged to Be Scams
ZachXBT, a well-known on-chain researcher in the cryptocurrency world, announced that he has identified remarkable connections between four different tokens on the Binance Smart Chain (BSC) network.
According to research shared by ZachXBT, the same entity or group is alleged to be associated with the ESPORTS, RIVER, LIGHT, and LAB tokens through Sablier vesting contracts.
The investigation also claimed that the asset in question was directly linked to one of the signatories of three different multisig wallets belonging to the LAB project. ZachXBT added that these four tokens have previously been associated with suspicious market manipulation activities on centralized cryptocurrency exchanges.
The sharp sell-off in the ESPORTS token today was particularly noteworthy. The token price lost approximately 93% of its value in a single candle, causing panic among investors.
ZachXBT commented in his post, “Is this entity simply very lucky, or is it an insider with inside information?”
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Despite its price plummeting, the ESPORTS token still has a total market capitalization of $24 million.
A graph showing the decline in the price of the ESPORTS token.
*This is not investment advice.
Continue Reading: Link Between Four Altcoins Uncovered: All Four Are Alleged to Be Scams
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