Crypto Influencer Lark Davis Denies Pump and Dump Allegations

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  • The anonymous investigator has already accused American YouTuber Logan Paul.
  • ZachXBT claims that all of the Davis-backed projects had “awful” tokenomics.

ZachXBT, the on-chain sleuth, has once again found something of interest. Now he’s made some serious accusations against crypto industry heavyweight Lark Davis. However, the latter insists that his actions were appropriate.

The anonymous investigator has already accused American YouTuber Logan Paul of supporting a number of “pump and dump” scams. It was claimed that the influencer was using NFT initiatives to exploit his audience.

ZachXBT claims that Davis pushed low-cap projects eight times before dumping them on the community without warning. He allegedly made $1 million as a result of this.

Pump and Dump?

In the first incident, which occurred in February 2021, 62,500 UMB tokens were sent to an address associated with Davis immediately after its promotion. Shortly after the ad campaign ended, the wallet dropped them, resulting in a $136,000 profit. According to ZachXBT’s analysis, Davis reportedly made $56,000 by selling the assets he had promoted just a few hours earlier. This trend was also seen for DOWS tokens.

Since then, Davis is said to have promoted and sold off a portion of the tokens he was given to promote SHOPX, BMI, PMON, XED, and APY following their respective launches.

ZachXBT claims that all of the Davis-backed cryptocurrency projects had “awful” tokenomics, which is why many of them “went to zero” before the bear market hit. As long as everything is done openly, he said, it is perfectly OK for crypto influencers to take part in seed rounds and promote enterprises they actually appreciate. But he laid the responsibility on Davis for abandoning his “discounted launchpad bags right after shills across YT, Twitter, and newsletter.”