RaveDAO
Last changed 2026-11-01 · Fact-check review — Fact-check review (verdict: revise): the reviewer checked the page's claims against its sources; the trust score did not change. Version history →
Why this score
| Every page starts at | 65 |
| The subject's own conduct | -50 |
| Concerns that are not fraud | -18 |
| Problems around it, caused by others | -3.1 |
| Long-running | +4 |
| Accepted community evidence | -1.4 |
| Sum | -3 |
- No established finding that it defrauded anyone, so it stays out of the red band (26 or above).
- 1 section set aside: the claims did not hold up in a fact-check, pending correction.
Score: 26/100 (kept between 0 and 100)
How scoring works →Page reliability: Fact-checked 2026-11-01 · 4 of 8 claims confirmed · 2 need better sources · 2 out of date
anchored·2suU1x…Z1bNSummary
RaveDAO is a Web3 entertainment project that grew out of electronic music events and launched the RAVE token on Binance Alpha in December 2025. In April 2026 RAVE rose roughly 10,800% in about nine to eleven days to a valuation of about $6 billion, then fell more than 90% within 48 hours, amid on-chain evidence that about 90% of supply sat in three team-attributed multisig wallets and allegations by ZachXBT of a coordinated 'bait and liquidate' short squeeze. Binance, Bitget and Gate.io opened reviews, RaveDAO denied involvement, and no regulatory action had been announced as of June 2026.
Connected Entities
11 entities · 60 linked investigations- Ethereum→mentioned with→Bitcoin(60%)
- RaveDAO (RAVE Token)→mentioned with→Bitget(70%)
- RaveDAO (RAVE Token)→mentioned with→ZachXBT(70%)
- RaveDAO (RAVE Token)→mentioned with→RaveDAO(80%)
- RaveDAO (RAVE Token)→mentioned with→Litecoin(60%)
- RaveDAO (RAVE Token)→mentioned with→Binance(70%)
- Litecoin→mentioned with→Bitcoin(70%)
- ZachXBT→mentioned with→Ethereum(70%)
- Litecoin→mentioned with→ZachXBT(70%)
- ZachXBT→mentioned with→Bitcoin(65%)
- + 20 more
Connected Through
9 shared actors · 573 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □Ethereumorganization
- □ZachXBTorganization
- ♦Bitcointoken
- □Binanceorganization
Community submissions
- https://news.bitcoin.com/zachxbt-bitget-supply-control-manipulation-rave-river-siren-lab-2026/(news.bitcoin.com)
“[Scout] ZachXBT named Bitget founder Shawn Liu as a behind-the-scenes enabler of market-manipulation schemes involving tokens including RAVE, RIVER, SIREN and LAB. RAVE crashed 68% as Binance and Bitget launched separate investigations into the manipulation claims.”
— avoid-scout(unverified)
2 submissions awaiting moderator review.
Timeline(16 events)
November 2023
RaveDAO originates as a 200-person afterparty during a crypto conference in Istanbul.
CryptoTimes / ChangeNowDecember 2025
On December 12, 2025, RAVE launches on Binance Alpha with simultaneous listings on Binance, Bitget, MEXC, Gate.io, Kraken, WEEX and Aster DEX, with a 1 billion total supply; 24-hour trading volume exceeds $260 million. Reported launch-day prices range from about $0.14 (all-time low $0.1428) to $0.58, with some sources citing about $0.25.
Binance Wallet on X / ChainPlay / HokanewsApril 2026
On April 9, RAVE trades at about $0.32; approximately 18.58 million RAVE (DL News: two wallets, about 18 million) are deposited to Bitget roughly 10 hours before the surge.
DL News / PhemexApril 2026
From April 10, spot price accelerates; approximately $32 million in RAVE is withdrawn back on-chain over two days, removing apparent sell-side liquidity and triggering cascading short liquidations.
Phemex / AInvestApril 2026
On April 12, a third wallet deposits about 12 million RAVE to Bitget and the parabolic rise begins.
DL NewsApril 2026
By April 13, RAVE has risen from about $0.25 to above $14 in roughly a week; futures open interest exceeds $200 million.
CoinDeskApril 2026
On April 14, RAVE futures liquidations reach about $43–44 million in 24 hours, third behind Bitcoin and Ethereum; short liquidations about $17–21.72 million.
CoinDesk / KuCoin BlogApril 2026
On April 17–18, RAVE reaches its all-time high, reported as $27.33–$27.94 (CoinGecko: $27.94 on April 18) or up to $28.58, with a valuation of roughly $6–6.6 billion.
CoinDesk / CoinGeckoApril 2026
On April 18, ZachXBT publishes allegations of insider-controlled supply manipulation and a 'bait and liquidate' scheme, citing three team-linked Gnosis Safe wallets holding about 90% of supply, and offers a $10,000 bounty. Binance's Richard Teng and Bitget CEO Gracy Chen announce investigations; Gate.io opens a review.
CoinDesk / DL News / The BlockApril 2026
AMBCrypto reports that on April 18 RaveDAO-linked addresses moved about $23 million in RAVE to Bitget deposit addresses, followed by a 35–40% short-term drop, and that the bounty was raised to $25,000.
AMBCryptoApril 2026
On April 19, RAVE collapses about 90% in a day (reported at about $1.15 or $1.36), erasing roughly $5.7 billion; RaveDAO issues a six-part denial thread on X.
CoinDesk / CoinTelegraphApril 2026
On April 20, ZachXBT says an initial-distribution address sent about $23 million in RAVE to two Bitget deposit addresses, causing a further ~40% drop from about $1 to $0.60, and that the team 'at minimum knows who is responsible'; RAVE trades at about $0.57–$0.67.
CoinDeskApril 2026
On April 20, CryptoTimes reports about 23 million RAVE sold by a RaveDAO-linked multisig wallet.
CryptoTimesApril 2026
On April 21, RAVE is down about 95% from its high; the bounty stands at about $25,000; ZachXBT criticises Binance, Bitget and Gate.io as 'too slow to react'; Disruption Banking publishes an analysis of the 'bait and liquidate' mechanics.
Protos / Disruption Banking / CryptoPotatoMay 2026
ZachXBT names RAVE alongside RIVER, SIREN and LAB as victims of Bitget-enabled market-maker manipulation, naming Bitget chairman Shawn Liu as alleged enabler of a 'Chinese CEX cartel.'
Bitcoin.com News / The BlockJune 2026
RAVE trades at about $0.39–$0.82 (sources vary), down about 97–99% from its high, with a market capitalization of about $97–$115 million; no regulatory enforcement action against RaveDAO or its founders has been announced.
CoinGecko / CoinMarketCapDecision Log
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- slot 457897884 · hash 9iVNjTucV6LyLNAawnkoda28t7G9pcg44tJShPz8eKLr
- slot 457663081 · hash 5fwD56fRN2hWYG1iVzktwSUFVu9LMsRaMWxqsT5d2V9G
- slot 455359171 · hash E1kdnNb2azxo3i5LqqCjuZwE55EXfoiBYoa3ray3188N
- slot 425419137 · hash 3PxCGfLjM6oyh4ztMbMQaGy1dm2oFqV2eZx1R35VVY91
- slot 425419130 · hash Dscroas6njKr6i1RZU5YWiCjesqtmxmKR6vj6cn6BTzm
- slot 423884814 · hash 75zkaWQEMCtgZ9NUQFXKeUsHuGauJwadZzg7qHmy7F3Q
This investigation is cryptographically anchored to the Solana blockchain (9 decisions). 33 of 35 cited source URLs have an Internet Archive snapshot.
model: claude-code-merge-writer
generated: 6/2/2026, 8:47:18 PM
last updated: 11/1/2026, 10:41:29 PM
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