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- ZachXBT has accused insiders of tampering with RAVE after the token posted a 10,383% gain in the past 30 days.
- The investigator called Bitget and Binance to investigate and offered a $10,000 reward to whistleblowers and evidence.
The sudden meeting in the RAVE sign has given false internal accusations, and blockchain analyst ZachXBT is calling for a public hearing on the exchange after the stock surged more than 10,000% in the month.
In a post on X, ZachXBT he said The move had signs of insider trading and showed what he described as a steady improvement in the offering of the token. He shared a price chart that shows RAVE rising 10,383% in the last 30 days, a rise big enough to turn the niche indicator into a big question mark of the market.
ZachXBT claims that insiders control the information provided
It’s not that RAVE did it too fast. That said, the meeting may be made up of parties that have significant control over the trademark. ZachXBT said that insiders control more than 90% of RAVE, a level of stability that, if accurate, would leave retail traders in particular facing pump-linked and sudden exits.
He directly called Bitget CEO Gracy Chen and Binance co-founder Yi He to solve the problem, urging them to start an internal investigation and remove anyone responsible. He also offered a $10,000 reward to whistleblowers willing to come forward with evidence related to the alleged fraud.
This type of increase is not common especially unless the investigator believes that the evidence can outweigh the cost itself.
The warning of instability came before the cases spread
The post followed a warning from RaveDAO earlier this week, where the project told users to be mindful of volatility and to be especially careful with key roles. On the face of it, that was a sign of constant danger. In the new context, however, it seems to be more complicated.
This period has made the sector hard to deny that it is just another small altcoin. What ZachXBT is saying is even more dangerous than this. They propose a market where insiders can profit from the participants in the high rise.
At this point, the case is still speculative and not based on accepted principles. But the pressure is now good on the exchange. When a token posts a five-digit profit in a month and an onchain researcher starts talking about internal control, the market tends to expect more than silence.
