Bitget Under Fire As $480m Withdrawal From Lab Sparks Allegations Of Coordinated Exchange Action
The post Bitget Under Fire As $480m Withdrawal From Lab Sparks Allegations Of Coordinated Exchange Action appeared on BitcoinEthereumNews.com. With a wave of suspicious on-chain transactions connected to Bitget, the crypto market is finding itself once again faced with accusations of lack of transparency and practices by centralized exchanges. Massive 500 million withdrawn from CEXs, abundant discussions about the potential “Price Manipulation” on Centralized platforms have reemerged. ZachXBT Dives Deeper into $LAB Token Scandal: Offers Bounty Following Market Manipulation Allegations Central to the controversy are allegations of collusion, opaque business practices and what some observers now call a Chinese CEX cartel dynamic at play. Another Under-Collateralised Protocol at A Glance Blockchain analytics firm Lookonchain revealed the incident after noticing a strange pattern of transactions In their analysis, they found that 10 newly created wallets withdrew a total of 100 million L