ZachXBT: Most of imToken's trading volume comes from illegal markets such as "pig butchering" schemes and scams
"On-chain detective" ZachXBT posted on platform X, publicly criticizing Tokenlon and imToken, stating that they have become high-risk channels for illegal fund flows, and indicated that further actions will be taken against the relevant platforms.
It is claimed that most of Tokenlon's trading volume comes from "pig butchering," investment scams, and various illegal market activities, and he bluntly stated that its co-founder Ben He should "bear legal responsibility for the related actions." He mentioned that investigations and crackdowns on Tokenlon and the imToken system will continue in the future. Tokenlon has almost no real trading demand outside of Southeast Asia, and a significant proportion of its on-chain activities are related to illegal fund flows, a problem that has noticeably worsened since 2022.
In addition, ZachXBT also named several so-called "offshore large trading and aggregation platforms," including Butter Network, HiFiSwap, Bridgers / SWFT, and Tokenlon, stating that they should be subject to stricter regulation and crackdowns due to potential criminal activities.
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