ZachXBT Exposes Multiple Cryptocurrency Market Manipulation Cases, Calls for Swift Exchange Intervention

BroadChain has learned that at 22:00 on April 21, according to Bitcoinist, over the past two weeks, the price of RaveDao (RAVE) surged by over 5000%, with its fully diluted valuation once reaching $20 billion, placing it among the top 20 in market capitalization. On-chain investigator ZachXBT discovered that approximately 90% of RAVE's supply is controlled by internal wallets, raising suspicions of market manipulation. He subsequently publicly called on exchanges such as Binance, Bitget, and Gate to intervene in the investigation and offered a $25,000 cryptocurrency bounty for information on the manipulators. Following the exposure of this news, the price of RAVE plummeted by over 90% in a single day. ZachXBT further pointed out that several recent cryptocurrency price surges exhibit similar manipulation patterns, such as RIVER's price rising from around $1 to a peak of nearly $90, and PIPPIN surging over 2000% without any clear catalyst. Other tokens like SIREN, MYX, COAI, and MemeCore (M) also showed similar rapid upward trajectories within weeks. He urged exchanges to intervene more quickly in market manipulation cases to prevent traders from suffering significant losses, while also noting that exchanges should have detected abnormal activities earlier. The $25,000 bounty for information on the RAVE manipulators remains active.