The altcoin LAB has experienced a dramatic 119% surge, reaching a price of $16.3, as it climbed to become the 12th largest project globally by fully diluted valuation (FDV), according to CoinGecko data. The rally, however, comes under a storm of accusations from prominent crypto figures alleging blatant price manipulation and exchange complicity.
Simon Dedic, founder of Moonrock Capital, labeled LAB a “laughably obvious scam” and accused major exchanges including Gate.io, KuCoin, and Bitget of enabling the alleged manipulation for short-term trading fee revenue. Dedic stated that these platforms are tolerating and even supporting the behavior, harming the entire industry.
Crypto detective ZachXBT also issued a warning, calling LAB’s chart a classic trap for retail investors and urging exchanges to delist the project. He previously accused a Bitget manager of direct involvement in manipulating the price.
With LAB racing past established coins like Zcash (ZEC) and the stablecoin USDS in FDV, the controversy exposes persistent gaps in exchange due diligence and market integrity. The token now faces intense scrutiny, with many experts warning of a high-risk environment for investors.
