ZachXBT named RAVE, SIREN, and other price-manipulating tokens, and stated that the $25,000 bounty remains in effect.

According to Mars Finance, on April 19th, blockchain detective ZachXBT released a summary of the RAVE token market manipulation incident, stating that RAVE's price plummeted by 95% in the past 24 hours, crashing from $26 to $1. He had previously posted a call for major exchanges to investigate RAVE market manipulation, offering a $10,000 reward, which was later increased to $25,000. ZachXBT stated that RAVE was listed on Binance Alpha in December 2025, with a total supply of 1 billion tokens. A cluster of 9 addresses (related to the initial allocation, provided by Mlm) currently controls approximately 95% of the circulating RAVE supply. Suspicious centralized exchange transfers were also discovered in April 2026. ZachXBT stated that a simple test illustrates the problem: a mere $52 million liquidation in 24 hours wiped out $6 billion in market capitalization. This ratio clearly indicates unsustainable valuation due to manipulation. RAVE isn't the only token to have been manipulated on major centralized exchanges, but it's the most blatant—it surged into the top 15 by market capitalization just 10 days after listing, only to plummet 95% within hours. Other projects with similarly suspicious recent price movements include SIREN, MYX, COAI, M, PIPPIN, and RIVER. ZachXBT calls for exchanges to intervene more quickly in manipulative activities. While large-scale detection is indeed difficult, every day of delay means losses for retail investors, while platforms continue to collect fees on trading volume. Regardless of the motive, the result is the same. Although the exchanges eventually responded, ZachXBT believes such unusual activity couldn't have gone completely undetected internally. ZachXBT plans to continue investigating similar anomalies to identify those responsible. ZachXBT reiterates: I do not hold any RAVE positions. The $25,000 bounty remains valid—currently received private messages are unverified and lack non-public information or supporting evidence.