Renowned blockchain researcher ZachXBT recently announced that he has discovered significant connections among four different tokens on the Binance Smart Chain (BSC) network.
According to the research shared by ZachXBT, these four tokens—ESPORTS, RIVER, LIGHT, and LAB—appear to be interconnected by the same entity or group through Sablier's ownership contracts. The investigation also claims that the asset is directly linked to one of the signers of three different multi-signature wallets associated with the LAB project. ZachXBT added that these four tokens had previously been linked to suspicious market manipulation activities on centralized cryptocurrency exchanges.
The sharp sell-off of the ESPORTS token today is particularly noteworthy. The token lost approximately 93% of its value in a single candlestick chart, causing panic among investors.
ZachXBT commented in his post: “Is this entity very lucky, or is it an insider with access to privileged information?”
Despite the price crash, the total market capitalization of the ESPORTS token still reached $24 million.
A chart showing the price drop of the ESPORTS token.
*This content does not constitute investment advice.