Allegations of RAVE coin pump and dump spark $25,000 bounty and pressure on exchanges


اتهم المحقق على السلسلة زاك إكس بي تي بعض المطلعين بتنفيذ مخرٷط منسث مخركط منسع ع بيعه بشكل مفاجئ لعملة ريف داو (RAVE) عبر منصات التداول المركزية الكبرى.

These accusations came after the price of RAVE increased by 5,600% in one week, where the dollar went from 5 to 14.19 dollars before correcting sharply downwards.

He said that insiders will control more than 90% of what is on offer from RAVE

Zack claimed on XB that the group controls more than 90% of the total product offered. Binance platforms, Bitget, and Gate.

The chain’s data shows that approximately 42 million dollars were transferred from RAVE to the Bitget platform, with 32 million dollars again on the chain shortly after.

It turns out that this ploy was designed to attract open sellers, and when the pressure on the open sellers’ books was pulled, and when the pressure on the order books was pulled, the forced liquidation led to a mechanical buying chain. series.

RAVE recorded settlements on derivatives amounting to 30.6 million dollars during 24 hours, and withdrawals amounting to 30.6 million dollars during 24 hours, and came and went with Ethereum (eth) only.

Zack called on the XBT management of Binance and Bitget to open responsible internal and external investigations, and initially gave 10 thousand dollars from his own money as a reward for the Bulgarian. Later, community contributions raised the reward to 25 thousand dollars.

Bitget responded to the pressure

The executive director of Bitget, Jaraisi Tshin, went public after the escalation of the scandalous pressure.

Zack urges the cryptocurrency community on the Bitcoin Exchange to continue to press the parties to achieve more transparency, and the question remains open as to whether Binance is expecting similar reviews in the coming days.

RAVE price performance (RAVE)
RAVE (RAVE) rate. source: Coingecko

The price of REEF DAO, the driving symbol for RAVE, fell by 27% during the last 24 hours, and was down 71 dollars at the time of writing this report.





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