ZachXBT Alleges Insider RAVE Price Manipulation via Bitget and Other Exchanges, Offers Whistleblower Bounty

RAVE is the token of Web3 entertainment project RaveDAO. On-chain investigator ZachXBT alleged that suspected insiders controlled more than 90% of the circulating supply and used Binance, Bitget and Gate to lure traders into short positions before engineering a short squeeze. If substantiated, the claims would expose major weaknesses in exchanges’ token-listing and internal-control systems.

On April 18, 2026, ZachXBT called on the three exchanges to investigate thoroughly and dismiss anyone involved. He raised the whistleblower reward, funded out of his own pocket, from $10,000 to $25,000. RAVE climbed from about $0.25 to $27.33 in nine days before plunging 90% over the next 24 hours. Binance and Bitget launched investigations, while RaveDAO denied manipulating the token’s price.