Don’t Let Chainlink’s LINK Manipulation Ruin You

Posted on July 22, 2020

Zeus Capital has been accused of market manipulation for uncovering Chainlink’s vulnerabilities in its report, while properly disclosing that it holds a short position in $LINK. And this is done by the same people that were caught in pump-and-dump schemes just a few months ago.

Let us show you what market manipulation actually looks like.

As shown in our report, Chainlink is selling approximately 1M LINK a month from one of their addresses. Latest transaction occurred just 6 day ago. Usually, these LINK arrive on Binance through a series of jump addresses (for reference, see page 14 of our report).

Unlike what we have seen previous, however, this time the $LINK were not sent to Binance. Instead, through a series of transfers from this address via a long list of jump addresses we arrive here. In a matter of 5 days, the address above has accumulated more than 1M LINK. Is there a chance this is an investor taking advantage of the liquidity spike? If it is the case, why would he use so many small transactions? Why would he use jump addresses? What we believe is that SmartContract has simply moved the 500,000 LINK from their flagship address to the one in question.

Where are the other half million coming from, though? Well, from exchanges. This address in particular, has been filling both the one with 1M LINK (See here, here and here) as well as others that might also belong to SmartContract.

Why are they buying these tokens? They have plenty of $LINK already. Well, to support the price from the downward pressure our report generated. SmartContract has been dumping $LINK to investors for years. Now, they are putting that same cash into action so they could stay afloat. These are your money, LINKMarines.

Can this go forever? No. With the emergence of options to borrow and short sell $LINK, our analysis does not have to convince the die hard LINKMarines, but the average investors looking for such opportunities. Realizing it cannot support its overly inflated price SmartContract will sooner than later flop and cut the losses before it is too late. We stand for our research and believe Chainlink is massively overpriced.

Zeus Capital would like to thank all investors and the part of the crypto community that supports us. In absence of regulations, activist investors are the only force that could keep the price in tact with the economic reality. We would like to thank CoinTelegraph for the recognition and welcome everyone to join the discussion. United we stand.

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