10 new wallets withdraw $480M LAB tokens from Bitget amid manipulation probe

Ten newly created wallets withdrew 100 million LAB tokens worth about $480 million from Bitget within 12 hours, representing 32% of the token's circulating supply. This large-scale withdrawal follows a recent 370% price surge earlier in May, which sparked an investigation into possible market manipulation involving LAB's founder. The pattern suggests coordinated price pumping and selling, raising concerns about wash trading and insider activity. The investigation continues as authorities seek more evidence of manipulation.