ZachXBT alleges crypto influencer Lark Davis made over $1M dumping crypto projects
Self-proclaimed on-chain detective ZachXBT Alleged Popular crypto influencer Lark Davis made over $1 million while promoting low-cap crypto projects and tossing them to his followers in a Twitter thread on Sept. 29.
1/ Survey of crypto influencers @thecryptoark Advertise your low-capital project to an audience and dump it right away.
Let’s dive in. pic.twitter.com/gzTuGHNdvv
—ZachXBT (@zachxbt) September 29, 2022
ZachXBT cited eight instances in which Lark promoted low-cap projects before dumping them on unsuspecting members of his community.
The first case was when we promoted $UMB in February 2021. According to ZachXBT, the Lark-connected address he received 62,500 UMB tokens and discarded them almost immediately after his promotion, making a profit of $136,000.
Lark allegedly made $56,000 after repeating the format on $DOWS on March 1st, dumping the tokens he advertised hours earlier.
Lark allegedly forged other tokens such as $SHOPX, $BMI, $PMON, $XED, and $APY. In all these cases, he promoted the tokens shortly after launch, after which he sold some of the tokens he received for the promotion.
10/ On November 9, 2021, Lark tweeted that he doubled his BMI rank.
It is quite possible that he has another wallet from his main wallet, but it is clear that he has not doubled his position from his main wallet.
(Unfortunately he blocked me months ago so I can’t ask him) pic.twitter.com/aTivN16rgd
—ZachXBT (@zachxbt) September 29, 2022
Larx tweeted that he doubled his position in the token in the $BMI promotion, but ZachXBT did not show that the crypto influencer’s main wallet did what he said. made it clear.
Meanwhile, Lark continued to insist that he was not paid for promoting these projects, despite being offered “a truckload of money every day to do so.”
ZachXBT also pointed out that all projects promoted by Lark have poor tokennomics. According to him, this is why “the bear market went to zero before the start of the bear market.” Also, no decent VC ever really touched it. ”
Lark Davis did not respond to CryptoSlate’s request for comment at press time.
The crypto detective added that it’s not a crime for influencers to participate in seed rounds or talk about projects they like, as long as it’s done in a transparent manner.
Lark isn’t the first time crypto influencer ZachXBT has been investigated and accused of dumping his followers. Earlier this year, crypto investigators accused Logan Paul of facilitating several pump and dump schemes.
Popular crypto YouTuber Ben Armstrong, aka BitBoy Crypto, was recently accused of dumping followers by another YouTuber, Atozy. BitBoy filed a defamation lawsuit against the accuser, but later dropped the lawsuit after pressure from the cryptocurrency community.
