The collapse of the $RAVE token has triggered a major industry wide investigation, with leading exchanges including Binance, Bitget, and Gate.io launching probes into alleged market manipulation. The token plunged over 95%, wiping out approximately $6.3 billion in market value and raising serious concerns about insider activity.

Blockchain investigator #zachxbt

accused insiders of orchestrating a coordinated short squeeze using major trading platforms. In response, Bitget CEO Gracy Chen confirmed an internal investigation, while Binance CEO Richard Teng stated the exchange would examine any potential misconduct. Gate.io leadership has also pledged action, emphasizing user protection as a priority.

RaveDAO has denied any involvement in the crash, but scrutiny continues to intensify as the scale of losses draws attention across the crypto market. ZachXBT has even offered a $25,000 bounty for whistleblowers, signaling growing pressure for transparency and accountability in what could become one of the most high profile manipulation cases in recent crypto history.

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