Crypto detective ZachXBT reveals more damning information about influencer Lark Davis.
ZachXBT, a crypto on-chain sleuth, reveals that investor Lark Davis withdrew $2.5 million from Celsius while promoting the platform.
According to ZachXBT, Davis began withdrawing funds long before rumors of problems at Celsius began to circulate. In response to a comment made by Erin Daniel, he posted a tweet saying that, “People were already beginning to have issues moving funds at that point. He had already moved his funds out multiple days before he posted that Tweet.”
The Community Hits Davis
ZachXBT’s allegations are based in part on a voluminous financial report released yesterday by Celsius as part of its bankruptcy court case.
The report contains the names and transactions of all Celsius users, including former Celsius CEO Alex Mashinsky and his wife, who collectively mined $12 million from the platform in May 2022.
Former CSO Daniel Leon reportedly withdrew $11 million. In response to ZachXBT’s findings, many Twitter users expressed their anger at Davis:
(User @CaymanFell) “LARP Davis @thecryptolark steals from his followers. Stop following this thief.”
(User @ @Ace60891566) “One of the great grifters of our time. I can say that here, right (he blocked me months ago for mentioning his pumping ETH incessantly)?”
Most of the anger focuses on Davis’s alleged promotion of Celsius to his audience, revealed in a YouTube screenshot where he allegedly said of the company, “I like it too,” while he probably had access to insider information that led him to withdraw his money from the platform.
Furthermore, the revelations of Davis’ withdrawals have added insult to injury for some of his YouTube audience following the pump-and-dump accusations made by ZachXBT in late September 2022.
Familiar Patterns for Followers of Lark
On September 29, 2022, ZachXBT alleged that Davis had unethically pocketed $1.2 million from the sale of eight new tokens that he promoted to his YouTube audience of over 400,000 followers.
His findings came after he identified Davis’s wallet address in an old YouTube video where Davis added his address to receive donations.
The crypto detective claimed that these sales caused the prices of these small market cap tokens to plummet, leaving Davis supporters penniless.
According to ZachXBT, Lark had acquired UMB, DOWS, SHOPX, BLES, BMI, XED, APY, and PMON tokens. After receiving each of these tokens, Davis allegedly tweeted about them before selling them at a profit.
In response to the accusations, Davis insisted that he was not a crypto “whale”, meaning that his token sales were not large enough to cause token prices to drop significantly.
ZachXBT responded with the following tweet:
“Davis also claimed that he revealed to his audience that he had invested in specific tokens and that he had only tweeted about the price increase without telling them to buy the tokens.”
The crypto detective explained:
“Of course, the coin is pumped up the listing when the price starts at an initial market cap of $100k. He claims he likes these projects, but instantly downloads them after a shilling.”
At the time of publishing, Davis had not responded to ZachXBT’s Celsius accusations.
By Audy Castaneda
