Dubious Asset Manager Claims to Short Chainlink With 99% Target

A report authored by Zeus Capital has asserted that the firm is building into a Chainlink (LINK) short position with a target of 99% gains, describing the top-10 cryptocurrency by market cap as “crypto’s Wirecard.”

However, the firm behind the report, Zeus-Capital.com, appears to have registered its website just seven months ago, while its Twitter account has been suspended for violations of the platform's terms of use.

With the report offering no citations and featuring zero working links, many analysts believe that it was authored maliciously.

Suspicious report predicts Chainlink price decimation

The purported asset management and research firm claims to be based in New York, London, Singapore, and Hong Kong, however, Cointelegraph was unable to contact the firm — with the phone number for its London office appearing to be switched off, and the Hong Kong office diverting calls straight to voicemail.

One Redditor dubiously claims to have spoken to the firm, writing:

“I actually called the phone numbers cause I was not sure about this Zeus Capital. Anyway, had a talk of over 30 mins with them: They are short They are legit Their concerns are well meant. Looks like LINK soon will be going down. I would not buy LINK above $2.”

The firm also has the same name as the UK-based wealth manager ‘ZeusCapital.co.uk,’ and should not be confused with the United Kingdom-based company.

LINK surges into new all-time highs

The report, titled ‘The Coinlink Fraud Exposed,’ predicts that LINK will plummet from $7.95 to $0.07 over an unidentified timeline.

Zeus describes Chainlink’s development team as “very small” and “inexperienced,” asserting that on-chain activity is declining while competing protocols proliferate. Further, it accuses Chainlink’s executives of insider trading, market manipulation, and distributing false and misleading information.

LINK broke into new all-time highs above $5 earlier this month gaining more than 50% in one week.

Cointelegraph contacted Chainlink, Zeus-Capital, and Zeus Capital for comment, however, had not received a response as of press time.