ZachXBT Calls Out RAVE, SIREN, and Other Price Manipulation Tokens, Announces $25,000 Bounty Still in Effect

BlockBeats News, April 19th. On-chain detective ZachXBT released a summary of the RAVE token market manipulation event, stating that RAVE's price plummeted by 95% in the past 24 hours, dropping from $26 to $1 in a straight line crash. Yesterday, a post was made calling on major exchanges to investigate the RAVE market manipulation, offering a $10,000 reward, which was later increased to $25,000.

ZachXBT stated that RAVE was launched on Binance Alpha in December 2025, with a total supply of 10 billion tokens. A cluster of 9 addresses (related to the initial allocation provided by Mlm) currently controls approximately 95% of RAVE's circulating supply. Suspicious on-chain transfers on a centralized exchange were also found in April 2026.

ZachXBT mentioned that a simple test could illustrate the issue: a mere $52 million 24-hour volume wiped out a $6 billion market cap. This ratio clearly indicates an unsustainable valuation caused by manipulation. RAVE is not the only token manipulated on mainstream centralized exchanges, just the most blatant one—rising to the top 15 in market cap within only 10 days of listing, then crashing by 95% in a few hours. Other projects with recent price trends highly suspicious include: SIREN, MYX, COAI, M, PIPPIN, RIVER.

ZachXBT urged exchanges to intervene more swiftly against manipulation. Detecting such large-scale manipulation is indeed challenging, but with each day's delay, retail investors suffer losses while exchanges continue to collect trading fees. Regardless of the motive, the outcome remains the same. Although exchanges eventually responded, ZachXBT believes such abnormal activities could not have gone entirely unnoticed internally beforehand. ZachXBT plans to continue investigating similar anomalies in an effort to uncover the responsible parties behind the scenes.

ZachXBT reiterated: I do not hold any RAVE positions. The $25,000 reward is still valid—currently received DMs are unverified claims, providing no non-public information or corroborating evidence.