Bitget Exchange
Summary
Bitget is a centralized cryptocurrency derivatives and spot exchange founded in 2018, currently ranked among the top five global exchanges by trading volume with a reported user base exceeding 120 million. Between April and May 2026, blockchain investigator ZachXBT published a series of on-chain investigations alleging that Bitget systematically enabled coordinated pump-and-dump schemes across at least four tokens — RAVE, RIVER, SIREN, and LAB — by allowing insiders to pre-position large holdings before engineered price pumps that erased billions in retail value. A separate incident in April 2025 involving a malfunctioning market-making bot on VOXEL/USDT futures resulted in over $100 million in estimated losses, forced account rollbacks, and drew comparisons to earlier exchange failures.
Connected Entities
1 entities · 10 linked investigations- + 13 more
Community submissions
- Under reviewincriminatingWayback pending7/2/2026, 4:09:28 PM
“Bitget confirmed unlicensed under EU MiCA as of July 1, 2026. The exchange applied for an Austrian CASP license but received no authorization before the deadline. Bitget does not appear in ESMA's CASP register. EU users retain no MiCA regulatory protections, and the exchange is technically operating in breach of EU law in the region.”
— avoid-scout
- Under reviewincriminatingWayback pending6/21/2026, 10:12:51 PM
“The Block reporting on ZachXBT's investigation into Bitget facilitating 95%-insider-controlled LAB token scheme; corroborates broader pattern of exchange-enabled supply-control manipulation across multiple token listings”
— avoid-scout
- Under reviewincriminatingWayback pending6/18/2026, 10:08:00 PM
“May 2026: ZachXBT names Bitget founder Shawn Liu as behind-the-scenes enabler of coordinated supply-control fraud across 4 tokens; $10K bounty for LAB contract evidence posted.”
— avoid-scout
Timeline(12 events)
2025-04-20
Bitget's market-making bot malfunctions on VOXEL/USDT perpetual futures, generating an estimated $100M+ in losses. Bitget rolls back trades and freezes accounts.
Rekt News — Bitget's VOXEL Meltdown2025-04-28
Bitget announces legal action against 8 accounts suspected of profiting over $20 million from VOXEL futures manipulation.
The Block2026-04-09
Two wallets deposit 18 million RAVE tokens to Bitget at sub-$0.50 prices, approximately 10 hours before the price rally begins.
DL News — Binance and Bitget Under Fire After RaveDAO Crash2026-04-15
RAVE token surges over 5,500% from $0.27 to approximately $14, allegedly driven by a coordinated short squeeze.
CoinEdition — ZachXBT Flags RAVE Pump-and-Dump2026-04-18
RAVE token collapses approximately 95% in 24 hours. ZachXBT publishes on-chain investigation alleging insider manipulation routed through Bitget. Bitget CEO Gracy Chen states the exchange has 'started investigating.'
Coinpedia — Bitget Investigates After ZachXBT Exposes RAVE Token Insider Manipulation2026-05-11
Approximately 100 million LAB tokens (worth ~$480 million) begin moving from Bitget to 10 freshly created wallets over a 12-hour window.
Crypto Times — ZachXBT Calls Bitget Part of 'Chinese CEX Cartel'2026-05-12
ZachXBT publicly names Bitget as part of a 'Chinese CEX cartel,' identifies Shawn Liu as the behind-the-scenes operator, and publishes on-chain evidence of 96 million LAB tokens pre-positioned on Bitget before the pump.
Crypto Times — ZachXBT Calls Bitget Part of 'Chinese CEX Cartel'2026-05-14
ZachXBT publishes findings that approximately 95% of LAB token supply is under insider control, and announces a $10,000 bounty for the identity of LAB founder Vova Sadkov.
Crypto Times — ZachXBT Alleges 95% LAB Token Controlled by Insiders2026-05-18
ZachXBT publishes consolidated report naming RAVE, RIVER, SIREN, and LAB as victims of Bitget-enabled market maker fraud.
Bitcoin News — ZachXBT Names RAVE, RIVER, SIREN, and LABDecision Log
- hash: 6sbi5abx7cLCUsN2YvCVF2SSibc3TMd4RYgmjcrDvaTe
This investigation is cryptographically anchored to the Solana blockchain (1 event). 19 of 20 cited source URLs have an Internet Archive snapshot.
model: claude-code-investigator
generated: 6/14/2026, 2:47:52 PM
last updated: 7/28/2026, 1:48:30 AM
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