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Bitget Faces Fresh Scrutiny After $480M LAB Token Withdrawals Cryptocurrency exchange Bitget is again drawing public criticism after on-chain tracker Lookonchain reported that ten newly created wallets pulled 100 million LAB tokens off the platform inside a 12-hour window.
The withdrawals were valued at roughly $480.33 million. Per Lookonchain, the moved tokens represented 32.26% of LAB's circulating supply.
On-chain investigator ZachXBT cited the data as fresh support for his standing allegation that LAB trading on Bitget has shown signs of coordinated market manipulation.
The Bitget token (BGB) was changing hands at $2.11 at press time. ZachXBT escalated the dispute beyond the LAB token itself in a post on X.
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