DWF Labs Seemed to Buy $100 PEPE and $2 JASMY: But What’s the Reality? CEO Explained

In a recent development, unauthorized withdrawals were detected targeting DWF Labs addresses.

A total of 121 million PEPE ($100), 49 API3 ($52), 65.47 SUSHI ($39) and 583 JasmyCoin (JASMY) ($2) were withdrawn from Binance to DWF Labs addresses.

DWF Labs founder Andrei Grachev confirmed that these transactions were fake and not initiated by the company.

It is thought that the transactions in question were carried out by those who tried to increase the value of the cryptocurrencies in which they invested by pretending to have purchased DWF Labs, after DWF Labs became famous with its recent altcoin purchases.

However, tokens were recently transferred from FLOKI multisig wallets to DWF Labs wallet addresses, and immediately afterwards, the company transferred these tokens to Binance. As a result of this transfer, FLOKI price increased.

DWF Labs, the name of which we have heard frequently lately, is defined as a market making company. However, recently at the Token2049 event in Singapore, other market making companies accused DWF Labs of market manipulation.

*This is not investment advice.