May 12, 2026·Bearish·community social

ZachXBT Alleges Bitget "Chinese CEX Cartel" After $480M LAB Withdrawals

Crypto investigator ZachXBT has publicly accused exchange Bitget and its founder Shawn Liu of involvement in a "Chinese CEX cartel." This accusation stems from the suspicious withdrawal of 100 million $LAB tokens, worth nearly $480 million. The tokens were reportedly moved from Bitget into ten newly created wallets, raising concerns about potential illicit activities.

Detected & updated continuously · Source: Nebula

Mentioned

LAB (lab)

@bitget

@zachxbt

Sources

@CryptoTimes_io

BIG: @zachxbt has publicly accused Bitget of being part of a “Chinese CEX cartel” after 100M $LAB tokens worth nearly $480M were withdrawn from the exchange into 10 fresh wallets. The investigator directly named @bitget founder Shawn Liu, alleging insider-backed token https://t.co/sYPZ6pOIXk