‘I've done nothing wrong’ — Lark Davis denies ‘pump-and-dump’ allegations
Crypto influencer Lark Davis has refuted new allegations from Twitter “on-chain sleuth” ZachXBT of shilling “low cap projects” to his audience “just to dump them shortly after.”
Davis was responding to a Twitter thread posted by Zach on Sept. 29, containing allegations that he profited over $1.2 million through selling tokens from crypto projects which he was allegedly paid to promote without disclosing.
In a 17-part thread, Zach pointed to eight examples of what is supposedly Davis’ crypto wallet receiving tokens from new crypto projects, with Davis subsequently tweeting or posting a video on them, and then selling the tokens shortly after.
Speaking to Cointelegraph, Zach said he received requests from multiple people who lost money on the tokens shared by Davis asking to “take a closer look” at him.
“Lark managed to dump with size on low cap projects time after time,” Zach said, adding they’ve investigated other crypto influencers, but the alleged amount was “never at this magnitude.”
Zach alleged in the thread that the largest gain to Davis came from receiving 120,000 SHOPX tokens, with Davis tweeting hours later about the project whilst apparently simultaneously selling the tokens, gaining $435,000.
6/ Example 3: $SHOPXa) Mar 31, 2021 at 3:31 pm UTC Lark receives 120k SHOPXb) Apr 1, 2021 at 12:32 am UTC Lark Tweets about the projectc) Meanwhile Lark is in the process of dumping all his 120k SHOPX for over $435k USD (finishes on 4/2) pic.twitter.com/mc3HvHrCdI
This example along with seven others Zach presented purportedly shows Davis making over $1.2 million in a similar pattern.
“Participating in seed rounds & sharing projects you genuinely like is completely fine as long as it’s done in a transparent manner,” Zach tweeted,
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