The platform, however, rejected any wrongdoing. Tokenlon explained that it does not custody funds and that all transactions remain publicly traceable on-chain.

Blockchain investigator ZachXBT has built a reputation for repeatedly calling out crypto platforms and entities he believes are involved in suspicious or illegal activity.

In his latest allegation, he has turned attention to Tokenlon, a relatively lesser-known decentralized exchange with around 17,000 followers on X.

Tokenlon Draws Scrutiny

ZachXBT has alleged that a large share of trading activity on decentralized exchange Tokenlon may be tied to illicit sources. These include romance scams, human trafficking,…