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Binance and Biget to probe RAVE’s 4,500% token surge as claims of insider-orchestrated rally grow
Nearly 90% of RAVE’s supply was concentrated in just three wallets, and millions of tokens were transferred to exchanges before the price surge.
Apr 18, 2026, 4:46 p.m.
What to know:
- Binance and Bitget are investigating allegations that insiders engineered a rally in RaveDAO’s RAVE token, which surged 4,500% in a week, causing $44 million in liquidations.
- Nearly 90% of RAVE’s supply was concentrated in just three wallets, and millions of tokens were transferred to exchanges before the price surge.
- RaveDAO’s team denies involvement in the price action. The token has dropped over 50% from its $27 peak and is down 30% in the last 24 hours.
ZachXBT has also personally offered a $10,000 bounty to whistleblowers who come forward privately to share evidence about the parties involved.
The little-known project rallied earlier in the week, leading to over $44 million in RAVE positions, most of which were bearish, getting liquidated in a single day. Those liquidations followed a 4,500% rally over the course of a week.
Still, the short squeeze highlighted the concentration of RAVE tokens within a small set of wallets. In fact, nearly 90% of its supply was in just three Gnosis Safe wallets at the time.
