According to Foresight News , blockchain investigator ZachXBT tweeted regarding his investigation into the RAVE token crash, stating that he does not hold any RAVE positions and cannot predict when exchanges will publicly comment. He emphasized that the $25,000 bounty remains in effect, and that all leads received so far are unverified and do not meet the requirements. He also named SIREN, MYX, COAI, M, PIPPIN, and RIVER tokens for similar suspicious price behavior recently, urging exchanges to expedite their intervention in market manipulation.
ZachXBT also disclosed that nine addresses associated with the initial RAVE allocation collectively control approximately 95% of the RAVE supply. He further discovered suspicious transactions on Bitget and Gate in April involving addresses suspected to belong to the RaveDAO team, contradicting the team's previous denials of price manipulation. He pointed out that RAVE wiped out $6 billion in market capitalization with only $52 million in 24-hour liquidation, a severely abnormal proportion pointing to a manipulated and unsustainable valuation. He had previously contacted RaveDAO co-founder Yemu Xu directly on April 13th and 14th, but has received no response to date.
