Bitget Exchange
Summary
Bitget is a centralized cryptocurrency exchange founded in 2018 and registered in the Seychelles, serving a self-reported user base in the tens of millions and recording $8.17 trillion in derivatives trading volume in 2025. Since April 2026, on-chain investigator ZachXBT has publicly alleged that Bitget functions as a node in a 'Chinese CEX cartel,' enabling a pattern of insider token supply manipulation across at least four named tokens (RAVE, RIVER, SIREN, and LAB) while naming Bitget's non-public-facing founder Shawn Liu as the alleged operative behind the schemes. No regulatory enforcement action had been filed as of June 2026, and neither Bitget nor Liu had publicly responded to the allegations.
Connected Entities
1 entities · 10 linked investigations- + 6 more
Timeline(16 events)
2018-01-01
Bitget founded in Singapore, registered in Seychelles, with Shawn Liu as founder and chairman.
The Block / Bitget official2021-10-01
Bitget lists 'Army Coin,' which uses unauthorized imagery of K-pop band BTS and contains false claims about BTS association.
CoinTelegraph2021-12-03
Army Coin delisted from Bitget following threats of legal action from BTS management company Hybe Corporation.
Protos2021-12-05
Monetary Authority of Singapore suspends Bitget's exemption to issue digital tokens to Singapore investors.
Bloomberg2026-04-08
Alleged: Wallets linked to the LAB development team move approximately 40 million LAB (~$13.6M) into Bitget, per SpecterAnalyst on-chain analysis.
Bitcoinist / CryptoTimes2026-04-18
RAVE token surges more than 10,000% over nine to eleven days; ZachXBT alleges 90% of supply held by three team-linked wallets and describes a 'bait and liquidate' manipulation pattern.
CoinDesk2026-04-19
RAVE token collapses approximately 90% in 24 hours, erasing roughly $5.7 billion in market cap. Bitget CEO Gracy Chen and Binance open investigations.
CoinDesk2026-04-20
VOXEL futures exploit at Bitget: eight accounts allegedly exploit a flaw in Bitget's market-making bot, generating over $20 million in profits against an estimated $100 million exchange loss.
Blocmates / Rekt News2026-04-21
ZachXBT warns that SIREN, RIVER, MemeCore, and Pipping exhibit similar manipulation patterns to RAVE, offering $10,000 bounties for evidence.
BanklessTimes2026-04-24
Alleged: Wallets linked to LAB team deposit approximately 96 million LAB (~$63M) to Bitget, per SpecterAnalyst, shortly before May 1 price surge.
Bitcoinist2026-05-01
LAB token surges approximately 350% over 72 hours; allegations emerge of insider coordination preceding the pump.
CryptoTimes2026-05-11
Lookonchain flags that 10 freshly created wallets begin withdrawing 100 million LAB tokens (~$480M, 32.26% of circulating supply) from Bitget's hot wallet over a 12-hour window.
CryptoTimes / Bitcoinist2026-05-12
ZachXBT publicly names Bitget as part of a 'Chinese CEX cartel,' identifies Shawn Liu as the exchange's behind-the-scenes operator, and names RAVE, RIVER, SIREN, and LAB as tokens affected by alleged Bitget-enabled market maker fraud.
CryptoTimes / Bitcoin.com News / Protos2026-06-10
No regulatory enforcement action filed against Bitget or Shawn Liu in connection with ZachXBT's allegations as of this date. Neither party has publicly responded.
AVOID.NET investigation contextDecision Log
- hash: 6sbi5abx7cLCUsN2YvCVF2SSibc3TMd4RYgmjcrDvaTe
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 6/14/2026, 2:47:52 PM
last updated: 6/14/2026, 2:48:04 PM
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