New Worrying Connections Discovered in the “Suspicious” Altcoin of Recent Days!

Eye, an on-chain researcher operating in the cryptocurrency market, has made noteworthy claims regarding the LAB project, which has been at the center of recent controversies. According to Eye’s posts, the price of the LAB token rose to $6.20 following previous transparency warnings about the project by on-chain researcher ZachXBT.

Eye reported that, according to information it received, an OTC (over-the-counter) deal regarding LAB token allocations was shared on a Telegram channel called “Cybertim Ventures.” This channel is known as a broker that facilitates OTC transactions. The shared vesting structure and deal terms reportedly match one of the early-stage investor allocations, suggesting that an investor may have sold a portion of their LAB allocation on January 5th at approximately a 50% discount.

The researcher also stated that recent on-chain activities related to the LAB team have raised questions within the community, and investors have become more concerned about transparency. Following this, Eye said it began investigating wallets allegedly linked to the project.

According to the post, Eye claims that some wallets believed to be connected to LAB are directly linked to a person named “Vova Sadkov.” It is stated that Sadkov was previously the founder of the eesee project, which appears to have been abandoned over time.

According to the data included in the investigation, it is alleged that approximately 21 million ESE tokens were cashed out through centralized exchanges from wallets supposedly linked to Sadkov. The tokens, valued at approximately $123,400, were allegedly transferred to platforms such as Bybit, XT.com, Gate.io, CoinW, and Coinstore.

Eye also claimed that a wallet address, previously linked to the LAB team, was used in significant transfers of the project’s funding. According to the researcher, this address shows direct interactions with institutional and angel investors who participated in LAB’s initial funding round.

In addition, Eye stated that numerous stablecoin transfers occurred between the wallet in question and personal addresses allegedly belonging to Vova Sadkov. According to the allegations, approximately $192,000 worth of USDT and USDC were transferred to various personal addresses associated with Sadkov.

*This is not investment advice.