ZachXBT accuses Tokenlon and imToken of involvement in fraud and illicit fund flows

Odaily Planet Daily News "On-chain detective" ZachXBT posted on platform X, publicly criticizing Tokenlon and imToken, claiming they have become high-risk channels for illicit fund flows and stating that further action will be taken against the relevant platforms. According to reports, the majority of Tokenlon's trading volume originates from "pig butchering scams," investment fraud, and various illegal market activities. He directly stated that its co-founder, Ben He, should "bear legal responsibility for related actions." He indicated that he will continue to investigate and combat the Tokenlon and imToken ecosystem in the future. Tokenlon has almost no real transaction demand outside of Southeast Asia, and a significant proportion of its on-chain activity is related to illicit fund flows. This issue has noticeably intensified since 2022.

Additionally, ZachXBT specifically named multiple so-called "offshore large-scale trading and aggregation platforms," including Butter Network, HiFiSwap, Bridgers / SWFT, and Tokenlon, stating that they should face stricter regulation and crackdowns due to potential criminal activities.