Bitcoin blogger Lark Davis is accused of Pump & Dump schemes

A researcher under the nickname ZachXBT created a Twitter thread accusing cryptocurrency investor and bitcoin blogger Lark Davis of Pump & Dump schemes.

1/ An investigation into how crypto influencer @thecryptolark promotes low cap projects to his audience just to dump on them shortly after.

Let’s dive in. pic.twitter.com/gzTuGHNdvv

— ZachXBT (@zachxbt) September 29, 2022

The author of the thread gave eight examples of how Davis’s wallet (the address was publicly available) received tokens from new cryptocurrency projects with low capitalization. After publishing advertising posts, the blogger sold the coins he received. ZachXBT believes that Davis earned more than $ 1.2 million this way. According to the Twitter crypto analyst, Davis received the largest profit from the NFT service SHOPX, which allocated him 120,000 tokens. After publishing a tweet advertising the platform, the blogger sold tokens worth $ 435,000.

5/ Example 2: $DOWS

a) Mar 1, 2021 at 4:23 pm UTC Lark receives 96k tokens
b) Mar 1, 2021 at 10:42 pm UTC Lark Tweets about the project launching in 16 hours
c) At launch Lark dumps 24k DOWS for over $ 56k USD.

DOWS has since been abandoned by the team since Dec 2021. https://t.co/n0SezTHSLn pic.twitter.com/rehSpTDMdw

— ZachXBT (@zachxbt) September 29, 2022

Davis himself called the accusations «ridiculous» and commented on each example in his Twitter feed.

To be clear, I always disclose on YT when I am invested in a token sale. I also shared these opportunities with my followers and subscribers well before the launch

— Lark Davis (@TheCryptoLark) September 29, 2022

«I paid for all the coins I received and didn’t get anything for free,» the blogger wrote. Davis stated that selling tokens after the project launch is a «common investment practice» and his subscribers have always received up-to-date information via social media. The blogger also added that he was not a whale in any of the startups, so the number of coins he sold was not enough to bring down their price.

As a reminder, Lark Davis recently named Ukraine as the country with the most cryptocurrency-oriented society in the world. He shared his thoughts on his YouTube channel. The cryptocurrency blogger noted that 12.7% of Ukrainians own digital assets.