ZachXBT publicly accused Tokenlon of deriving the majority of its volume from pig butchering scams, human trafficking proceeds, investment fraud, and Chinese underground marketplaces — and named imToken co-founder Ben He.

Independent research estimated that scammer swap transactions may constitute 58%+ of all Tokenlon transactions since 2022, and blockchain investigations firm Chainbrium separately found that a large proportion of pig butchering proceeds flowed through Tokenlon.

ZachXBT further flagged Butter Network, HiFiSwap, and Bridgers/SWFT alongside Tokenlon as platforms that should be prioritized for enforcement action.