CoinVoice has learned that, according to on-chain detective ZachXBT, crypto KOL Crypto Beast is suspected of manipulating the price of the ALT token from $0.19 to $0.003 on July 14, causing the market cap to collapse from $190 million to $3 million.

ZachXBT discovered through on-chain analysis that Crypto Beast previously actively promoted the ALT token, selling over $11 million worth of tokens through more than 45 associated internal wallets. The wallet address shared publicly by Crypto Beast can be traced back to a Celestia address, which transferred funds to multiple exchanges (including Kucoin, Sideshift, Binance, and HTX) to fund sidechain wallets.

ZachXBT stated that Crypto Beast deleted all posts promoting the token after the collapse, having previously denied any connection to the price drop. [Original link]