Recently, an astonishing event has emerged in the Crypto Assets sector. Renowned on-chain analyst ZachXBT disclosed a shocking insider story involving inappropriate behavior by the Crypto Beast project team.

According to an investigation by ZachXBT, the Crypto Beast team, although publicly claiming to have no relation to the $ALT coin price crash, was actually manipulating the market behind the scenes. On July 14, 45 suspected internal wallets concentrated on selling $ALT, cashing out a total amount exceeding $11 million. This action directly caused the price of $ALT to plummet from $0.19 to $0.003, a staggering drop.

It is worth noting that after triggering market turmoil, the Crypto Beast team quickly removed relevant promotional content and wallet information in an attempt to cover up their actions. However, through on-chain tracking with blockchain technology, the flow of these funds has been locked down, involving multiple exchanges.

This event once again highlights the risks of the Crypto Assets market and the necessity of regulation. Investors need to remain highly vigilant when participating in related projects to avoid becoming someone else's 'patsy.' At the same time, such behavior has also sparked widespread discussions within the industry regarding the ethical standards of project parties.