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 soon after.”
Davis was answering a Twitter thread published by Zach on Sept. 29, that contains allegations he profited over $1.two million through selling tokens from crypto projects that they was allegedly compensated to advertise without disclosing.
Inside a 17-part thread, Zach pointed to eight examples of what’s supposedly Davis’ crypto wallet receiving tokens from new crypto projects, with Davis subsequently tweeting or posting a relevant video in it after which selling the tokens soon after.
Talking with Cointelegraph, Zach stated he received demands from multiple individuals who lost money around the tokens shared by Davis asking to “take a more in-depth look” at him.
“Lark were able to dump with size on low cap projects again and again,” Zach stated, adding they’ve investigated other crypto influencers, however the alleged amount was “never only at that magnitude.”
Zach alleged within the thread the largest gain to Davis originated from receiving 120,000 SHOPX tokens, with Davis tweeting hrs later concerning the project while apparently concurrently selling the tokens, gaining $435,000.
6/ Example 3: $SHOPX
a) Marly 31, 2021 at 3:31 pm UTC Lark receives 120k SHOPX
b) Apr 1, 2021 at 12:32 am UTC Lark Tweets concerning the project
c) Meanwhile Lark is while dumping all his 120k SHOPX for more than $435k USD (finishes on 4/2) pic.twitter.com/mc3HvHrCdI
— ZachXBT (@zachxbt) September 29, 2022
This situation together with seven others Zach presented purportedly shows Davis making over $1.two million inside a similar pattern.
“Participating in seed models & discussing projects you really like is totally fine as lengthy as it’s completed in a transparent manner,” Zach tweeted, adding:
“This isn’t the situation as Lark includes a pattern of dumping his discounted launchpad bags immediately after shills across YT (YouTube), Twitter, & [his] e-newsletter.”
Cointelegraph requested comment from Davis and it was directed to a number of tweets published late on Sept. 29 by which Davis calls the allegations produced by Zach “ridiculous” and provided an answer to every example Zach alleged he profited from.
“I got nothing free of charge,” Davis tweeted to his more than one million supporters, adding his token purchase investments are “always disclosed” on his YouTube funnel of 485,000 subscribers and distributed to his supporters “well prior to the launch.”
For that sales under consideration, I wish to be obvious that:
1. I disclosed which i was a trader after i initially discussed them
2. I spoken about this prior to the token purchase, to provide the time to enter into the purchase.
3. I compensated its these coins, I acquired nothing free of charge.
— Lark Davis (@TheCryptoLark) September 29, 2022
Davis added he was following an investing strategy he teaches, selling the tokens upon launch, that they claims is a very common investing practice for token sales. Davis stated the amounts he offered were “nowhere close enough to dump the price” from the tokens.
“I educate this idea frequently for you all, none of this ought to be an unexpected if you’ve been having to pay attention,” he tweeted. “What you decide to pursue with my opinions is entirely up to you.”