Simon Dedic, founder of the cryptocurrency-focused venture capital firm Moonrock Capital, strongly criticized major exchanges for abetting the recently surging cryptocurrency 'LAB', calling it an obvious scam.

Simon Dedic pointed out, "It seems like no one is holding LAB accountable, even though it is so obviously a scam it's almost laughable. What is even more disappointing is that major exchanges like Gate, KuCoin, and Bitget are also standing by and abetting this behavior for short-term profits."

He went on to emphasize the background of the price manipulation and the role of the exchanges, stating: "LAB surged more than two times last week, and its fully diluted valuation (FDV) reached $8.6 billion (currently $10.5 billion). Looking at the chart, it is clear that suspicious market makers are artificially driving up the price to lure in retail investors and drain their liquidity. However, without fee-free trading accounts, the cost of manipulation would be too high; for this to be possible, the cooperation of centralized exchanges (CEX) is necessary. For an exchange to assist a scam project is an action lacking in morals that damages the entire industry."

Currently, LAB's FDV is approximately $10.5 billion (about 15.8833 trillion won), ranking 12th in the overall cryptocurrency market based on CoinGecko. This is a scale comparable to the current market capitalization (15.69 trillion won) of Hyundai Engineering & Construction among domestic listed companies.