Binance and Bitget to probe a rally in RaveDAO's RAVE token, which surged 4,500% in a week, after ZachXBT alleged RAVE insiders engineered a large short squeeze

Nearly 90% of RAVE's supply was concentrated in just three wallets, and millions of tokens were transferred to exchanges before the price surge.

CoinDesk 2026-04-19 Francisco Rodrigues

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NullTX Will Izuchukwu on x
$RAVE Under Scrutiny: $28B Valuation Explosion, Insider Tight Grip Accusations, & $43M Liquidation Aftermath
@zachxbt @zachxbt on x
@RaveDAO Pump and dump activity for $RAVE originated on @bitget @binance @Gate Call to action for both @heyibinance @GracyBitget to do better and launch internal investigation offboarding the responsible actors. Offering up to $10K bounty of my personal funds for whistleblowers t…
@gracybitget @gracybitget on x
@zachxbt ... thanks for highlighting! We've started investigating into $RAVE
@ravedao @ravedao on x
1/ We are aware of the rumors and accusations circulating regarding $RAVE and RaveDAO team. We want to be clear: RaveDAO team is not engaged in, nor responsible for, recent price action. We take transparency seriously and remain humbled by the attention, but our focus is on the
@zachxbt @zachxbt on x
@RaveDAO ... Update: I am increasing the RAVE bounty to $25K due to contributions from other community members. Keep applying pressure to exchanges so they address the market manipulation. [image]
@_richardteng Richard Teng on x
@zachxbt @heyibinance Thanks for flagging this with us @zachxbt. We're looking into it. We will always do our part to investigate all market misconduct.
@crypto_jargon @crypto_jargon on x
Extreme manipulation on $RAVE confirmed by on-chain data. Team-related wallets dumped millions to Bitget right before the pump → created fake sell walls → lured shorts → withdrew tokens → price squeezed vertically. Result: $134M+ liquidations, mostly shorts. This isn't [image]
@crypt0_pk Crypto PK on x
these kinda crimes are possible when teams hold almost whole supply of the token > RaveDao team holding almost 99% of $RAVE supply > 80x pump in one week > but I guess a one 6-7 figure sell order can reserve the candles in short there's pure manipulation and in the results [image…

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Binance and Bitget to probe a rally in RaveDAO's RAVE token, which surged 4,500% in a week, after ZachXBT alleged RAVE insiders engineered a large short squeeze

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