Exchanges Accused of Pump-Dump Scheme Involving RAVE Token

Cryptocurrency market participants are in for a reckoning as on-chain investigator ZachXBT sheds light on alleged coordinated manipulation involving the RAVE token. According to ZachXBT's research, key exchanges Binance, Bitget, and Gate.io may be at the center of this manipulative network.

ZachXBT's investigation reveals that these exchanges have been instrumental in enabling the suspected pump-and-dump scheme, with insiders controlling more than 90% of RAVE liquidity support. This concentration of control allows for coordinated actions to distort pricing and engineer volatility patterns that disproportionately impact retail market participants.