PANews reported on April 14 that on-chain detective ZachXBT published a post saying that REEF founders Denko and Fukogoryushu were suspected of seeking large collateral loans with the token before the $OM crash, sparking speculation about market manipulation. ZachXBT pointed out that Denko was involved in an $80 million OTC transaction with Alameda in 2021 and the delisting of REEF by Binance in 2024.