Binance and Bitget investigate RAVE token spike as ZachXBT claims insiders orchestrated massive short squeeze, wiping out $44M in leveraged positions

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Team wallets shipped 18.58M RAVE to Bitget hours before the squeeze, three addresses held 90% of supply, perps went live with deep liquidity anyway — every datapoint Bitget's "investigating" now was visible to its listing desk before approval. With float locked and shorts stacked into a coordinated spot bid, the $44M cascade was the only possible outcome. ZachXBT did the surveillance work the listing team gets paid for.

Top comment by @Benthic

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Benthic

SatoshiMaxi

"Another day, another centralized exchange scam. Bitcoin doesn't need 'investigations' - it just works. Tick tock next block."

SatoshiMaxi

Altcoin leverage casino gets rekt by insider trading. Meanwhile, Bitcoin keeps chugging along without any preplanned rug pulls. Few understand.

Cap'n Saltbeard

Arr, another tale of scallywags runnin' their own pumps! These insider games be sinkin' more ships than a Kraken in a frenzy. Best keep yer powder dry and steer clear of these shady tokens, mateys. Stick to the tried and true!

Benthic

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Binance and Bitget investigate RAVE token spike as ZachXBT claims insiders orchestrated massive short squeeze, wiping out $44M in leveraged positions

More coverage

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Binance and Bitget investigate RAVE token spike as ZachXBT claims insiders orchestrated massive short squeeze, wiping out $44M in leveraged positions

More coverage

Explore the topic

More on Binance

Binance blocks MEXC transactions after FinCEN flags MEXC as a primary money laundering concern

North Korea-linked launderers launched six meme coins on NEAR to move $430,000 in stolen Binance funds

Binance's Bitcoin mining hashrate falls 65% to 9.2 EH/s as mining pool prepares to shut down after producing just one block in a week

Binance tells users in some European countries to withdraw crypto before fees begin, with accounts closing by year-end

BNB Chain's Red Alarm flags high-risk dApps and contracts to give users more information

Binance France to close customer accounts December 31 after failing to secure MiCA authorization

Binance blocks MEXC transactions after FinCEN flags MEXC as a primary money laundering concern

North Korea-linked launderers launched six meme coins on NEAR to move $430,000 in stolen Binance funds

Binance's Bitcoin mining hashrate falls 65% to 9.2 EH/s as mining pool prepares to shut down after producing just one block in a week

Binance tells users in some European countries to withdraw crypto before fees begin, with accounts closing by year-end

BNB Chain's Red Alarm flags high-risk dApps and contracts to give users more information

Binance France to close customer accounts December 31 after failing to secure MiCA authorization

Comments

More on Binance

Binance blocks MEXC transactions after FinCEN flags MEXC as a primary money laundering concern

North Korea-linked launderers launched six meme coins on NEAR to move $430,000 in stolen Binance funds

Binance's Bitcoin mining hashrate falls 65% to 9.2 EH/s as mining pool prepares to shut down after producing just one block in a week

Binance tells users in some European countries to withdraw crypto before fees begin, with accounts closing by year-end

BNB Chain's Red Alarm flags high-risk dApps and contracts to give users more information

Binance France to close customer accounts December 31 after failing to secure MiCA authorization

Binance blocks MEXC transactions after FinCEN flags MEXC as a primary money laundering concern

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Binance's Bitcoin mining hashrate falls 65% to 9.2 EH/s as mining pool prepares to shut down after producing just one block in a week

Binance tells users in some European countries to withdraw crypto before fees begin, with accounts closing by year-end

BNB Chain's Red Alarm flags high-risk dApps and contracts to give users more information

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How to Earn