{"id":900199,"date":"2026-04-19T13:12:12","date_gmt":"2026-04-19T18:12:12","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2026\/04\/19\/bitget-investigates-after-zachxbt-exposes-rave-token-insider-manipulation\/"},"modified":"2026-04-19T13:12:12","modified_gmt":"2026-04-19T18:12:12","slug":"bitget-investigates-after-zachxbt-exposes-rave-token-insider-manipulation","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2026\/04\/19\/bitget-investigates-after-zachxbt-exposes-rave-token-insider-manipulation\/","title":{"rendered":"Bitget Investigates After ZachXBT Exposes RAVE Token Insider Manipulation"},"content":{"rendered":"
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\"RaveDAO<\/figure>\n<\/div>\n
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One of crypto\u2019s most trusted on-chain investigators just called out a textbook pump and dump, and this time, major exchanges are named.<\/p>\n

ZachXBT posted publicly that pump and dump activity for RAVE token originated on Bitget, Binance and Gate, with insiders controlling over 90% of supply. He called on Binance co-founder He Yi and Bitget CEO Gracy Chen to launch internal investigations and offboard the responsible actors.<\/p>\n

He offered a $10,000 personal bounty for whistleblowers. Chen responded soon:<\/a> \u201cThanks for highlighting! We\u2019ve started investigating into $RAVE.\u201d<\/em><\/p>\n

How the Manipulation Worked<\/strong><\/h2>\n

The setup was deliberate. Wallets linked to the RaveDAO deployer transferred 18.58 million RAVE tokens to Bitget before the pump began \u2013 with no announcement and no disclosure. The price was still below $0.50.<\/p>\n

Ten hours later, the rally started.<\/p>\n

With 74% of traders on Binance holding short positions, insiders then withdrew 29.78 million tokens from Bitget \u2013 draining exchange selling pressure entirely. The resulting short squeeze sent RAVE from $0.27 to over $14 in seven days, a gain of more than 5,500%.<\/p>\n

ZachXBT had previously reached out to RaveDAO\u2019s co-founder before posting<\/a> publicly. He was left on read.<\/p>\n

The Red Flags Were There<\/strong><\/h2>\n

Intergovernmental Blockchain Advisor Anndy Lian flagged the warning signs<\/a> clearly. The top 10 wallets hold 98.16% of total supply. Only 24-25% of the one billion token supply is in circulation. The fully diluted valuation sits at roughly four times the current market cap \u2013 a ratio that historically precedes 40-60% retracements. There is no public codebase and no completed security audit.<\/p>\n

The project\u2019s backer list is striking: World Liberty Financial, Warner Music Group, Tomorrowland, and YZi Labs \u2013 a Web3 incubator with former Binance staff. None of that changes what the on-chain data shows.<\/p>\n

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\u201cWe cannot allow this blatant market manipulation by insiders controlling more than 90% RAVE support to further extract from retail investors,\u201d<\/em> ZachXBT wrote.<\/a><\/p>\n<\/blockquote>\n

Bitget has confirmed its investigation is underway. Binance and Gate have not yet responded publicly.<\/p>\n

Continue Reading: Kalshi Traders Bet XRP Will Hit $1.60 in April: Top Signals Flashing Now<\/a><\/strong><\/p>\n<\/div>\n

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\n Zafar Naik<\/p>\n","protected":false},"excerpt":{"rendered":"

One of crypto\u2019s most trusted on-chain investigators just called out a textbook pump and dump, and this time, major exchanges are named. ZachXBT posted publicly that pump and dump activity for RAVE token originated on Bitget, Binance and Gate, with insiders controlling over 90% of supply. He called on Binance co-founder He Yi and Bitget<\/p>\n","protected":false},"author":1,"featured_media":900200,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[81434,30024],"tags":[],"class_list":["post-900199","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitget","category-investigates"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/900199","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=900199"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/900199\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/900200"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=900199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=900199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=900199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}