- ZachXBT has accused insiders of manipulating RAVE after the token posted a 10,383% gain over the past 30 days.
- The investigator called on Bitget and Binance to investigate and offered a $10,000 bounty for whistleblowers with evidence.
A sudden rally in the RAVE token has drawn accusations of insider manipulation, with blockchain investigator ZachXBT publicly calling for exchange-level scrutiny after the asset climbed more than 10,000% in a month.
In a post on X, ZachXBT said the move bore the hallmarks of insider trading and pointed to what he described as concentrated control over the token’s supply. He shared a price chart showing RAVE up 10,383% over the last 30 days, a rise large enough to turn a niche token move into a broader market integrity question.
ZachXBT says insiders control most of the supply
The core allegation is not simply that RAVE rallied too quickly. It is that the rally may have been engineered by parties with dominant control over the token. ZachXBT said insiders control more than 90% of RAVE supply, a concentration level that, if accurate, would leave retail traders especially exposed to coordinated pumps and abrupt exits.
He called directly on Bitget chief executive Gracy Chen and Binance co-founder Yi He to address the issue, urging them to launch internal investigations and remove any responsible actors. He also offered a $10,000 bounty for whistleblowers willing to come forward with evidence related to the alleged manipulation.
That kind of public escalation is not especially common unless the investigator believes the evidence trail could extend beyond price action alone.
Volatility warning came just before the accusations spread
The post followed a warning from RaveDAO earlier this week, when the project told users to be mindful of heightened volatility and to use particular caution with leveraged positions. On its face, that was a fairly standard risk notice. In the new context, though, it looks more charged.
The timing has made the episode harder to dismiss as just another thin-liquidity altcoin spike. What ZachXBT is alleging is more serious than that. He is suggesting a market structure where insiders may have been in position to extract value from retail participants during a dramatic upward move.
For now, the accusation remains an allegation rather than a formal enforcement finding. But the pressure is now clearly on the exchanges. When a token posts a five-digit percentage gain in a month and an onchain investigator starts talking about insider control, the market tends to expect more than silence.
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