Andrei Grachev, founder of DWF Labs, stated, "Rumors that DWF Labs spearheaded DEXE price manipulation are groundless." He claimed, "We purchased a large amount of DEXE in 2024 and sold some DEXE for cash-out in 2025. Then, around October 10 last year, when the cryptocurrency crash began, we again purchased a large amount of DEXE and took a hedge position for profits in the first half of this year. Later, when the funding rate in the futures market turned negative, we closed our short positions and sold our spot DEXE holdings to complete the cash-out. All transactions were conducted on centralized exchanges, and exchanges know our UID, so they can confirm that there was no price manipulation." Meanwhile, Chinese influencer Choc recently raised suspicions that DWF Labs was behind the price manipulation of DEXE, which plummeted by over 90%. He pointed out, "DWF Labs gained approximately $40 million in profit through DEXE price manipulation. All individual investors' money was sucked into their pockets. DWF Labs has also been deeply involved in the price manipulation of coins like ESPORTS and SIREN, but no one takes responsibility."
