Lark Davis, a crypto influencer and investor, denied allegations of selling his followers low-cap projects to dump them soon after, which were made on Twitter by user and self-proclaimed “on-chain sleuth” ZachXBT.
Zach posted a thread yesterday, in which he accused Davis of making more than $1.2 million by selling coins from crypto projects he got money to promote and didn’t provide disclosure in advance, CoinTelegraph reported.
Davis made $1.2m in eight projects
Zach posted eight screenshots in his Twitter thread of Davis’ crypto wallet supposedly receiving coins from new crypto projects, with Davis posting or tweeting a video on them thereafter, and then “dumping” the tokens.
‘Take a closer look’
Zach told CoinTelegraph he had gotten requests from a number of people who had lost money on the investments encouraged by the crypto influencer and asked the medium to “take a closer look” at Davis.
The sleuth said Davis had managed to dump high volumes of low cap coins time and again, adding he and his team had investigated many crypto influencers, but never someone who made so much money.
He alleged Davis’ biggest profit came from 120,000 SHOPX tokens, which he sold for $435,000 a few hours after receiving them.
Zach tweeted, “Participating in seed rounds and sharing projects you genuinely like is completely fine as long as it’s done in a transparent manner.
“This is not the case as Lark has a pattern of dumping his discounted launchpad bags right after shills across YouTube, Twitter, and his newsletter.”
Davis: Accusations are ‘ridiculous’
The influencer, who has over a million followers on Twitter, termed the accusations “ridiculous” and assured he received nothing for free. He said he always disclosed his crypto sale investments on his YouTube channel well before launch.
His investment strategyis to sell the tokens upon launch, which he says is not a rare practice for token sales. Davis added the amounts he sold were too insignificant to achieve a pump and dump and that he never made anyone take his investment advice.