On-chain analyst JackXBT strongly criticized the cryptocurrency project LAB, which is currently under suspicion of market manipulation, pointing out that it continues to manipulate markets within major centralized exchanges (CEXs) by utilizing market makers.

JackXBT warned on his channel on the 22nd, "It is disappointing that major exchanges continue to ignore this situation. We all know what will happen when LAB, locked through over-the-counter (OTC) deals, private sales, and airdrops, begins to be released into the market. This is because insiders effectively control the vast majority of the circulating supply."

He further explained, "Retail investors might buy LAB, mistakenly believing it is safe after seeing its listings on major exchanges, exposure on trending lists, and high market capitalization," adding, "As I have emphasized before, trading this type of token is not recommended."

Previously, Simon Dedic, founder of Moonrock Capital, also criticized the situation, stating, "LAB is an obvious scam," and that "exchanges like Gate, KuCoin, and Bitget are aiding and abetting their market manipulation."

Meanwhile, JackXBT has offered a bounty of $10,000 (approximately 13 million won) to collect tips regarding LAB's market manipulation. Furthermore, he has urged major exchanges such as Bitget, Binance, and Gate to take strong measures, including freezing insider profits, redistributing funds to investors, and delisting the token.