Crypto investigator ZachXBT warns of RAVE token manipulation, claims insiders control over 90% supply, and offers $25K bounty for proof.
The crypto market faced new concerns after onchain investigator ZachXBT raised an alert about the RAVE token. He asserted that there were good indications of insider manipulation. Consequently, he was willing to pay up to $25K to anyone who privately provides clear evidence.
Insider Control Raises Serious Market Concerns
ZachXBT stated that more than 90% of RAVE token support is controlled by insiders. Thus, he thinks that a few people are manipulating the price. This degree of control may enable unjustified profits at the expense of ordinary investors.
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 to… pic.twitter.com/NhZDubdU9R
— ZachXBT (@zachxbt) April 18, 2026
Further, he termed the practice as a pump and dump scheme. In these situations, the prices are initially pushed up. Then, insiders dispose of their holdings in a hurry. This leads to a crash in prices and losses to retail investors.
Related Reading: ZachXBT Alleges Insider Trading Abuse at Crypto Exchange Axiom – Ledger Tribune
He further added that major platforms were the source of trading activity associated with the token. These are Binance, Bitget, and Gate.io, thus the problem has become more popular in the industry.
In addition, ZachXBT called on exchange leaders to take action. He asked He Yi and Gracy Chen to launch internal investigations. He also encouraged them to disqualify any party that was engaging in wrongdoing.
Moreover, he cautioned that these practices damage the confidence in crypto markets. Fairness is compromised when insiders possess huge shares of tokens. Hence, more stringent controls and measures are required to guard users.
Exchanges Respond as Investigation Begins
After the general warning, Bitget was quick to react to the allegations. CEO Gracy Chen confirmed that an internal investigation has started. This indicates that exchanges are taking the matter seriously.
However, there are no conclusive findings of the investigation so far. Thus, the situation is under development. Both Bitget and other exchanges involved are now awaiting updates by market watchers.
In the meantime, ZachXBT raised his bounty to $25K on valuable evidence. He urged whistleblowers to do so in private. This is done to obtain additional evidence and find the culprits.
Moreover, he emphasized the importance of transparency in crypto trading. Manipulation risks can be minimized by clear rules and monitoring. Thus, the leaders of the industry are pressured to enhance oversight systems.
Broader Impact on Crypto Market Trust
The case of RAVE token shows that smaller crypto projects continue to be at risk. These tokens tend to be less liquid and more controlled by insiders. Consequently, they are more susceptible to manipulation plans.
In addition, these cases may destroy confidence in retail investors. Exchanges are important to many users in order to have fair trading conditions. Thus, any manipulation is a cause of concern regarding the safety of platforms.
Over the past few years, regulators and exchanges have put more effort in checking trading behavior. But incidents such as this demonstrate that there are still difficulties to overcome. More powerful instruments and quicker response might be required to avoid such incidents.
Additionally, the role of independent investigators such as ZachXBT is gaining prominence. They assist in revealing problems that might not be apparent. Hence, their results tend to compel businesses to make swift decisions.
Overall, the RAVE situation serves as a warning for the crypto industry. It demonstrates the impact of insider control on markets and investors. The result could have an effect on the way exchanges deal with similar cases in the future as investigations proceed.