Shawn Liu
Summary
Shawn Liu (Chinese name: Liu Shuai) is the founder of Bitget, a major centralized cryptocurrency derivatives exchange, and the founder of Singaporean crypto venture fund Foresight Ventures. In May 2026, on-chain investigator ZachXBT publicly named Liu as the alleged true decision-maker behind Bitget, accusing him of enabling coordinated token supply-manipulation schemes while CEO Gracy Chen serves as the exchange's public face. Liu has not responded to any of the allegations, and no regulatory or legal findings have been made against him personally as of the date of this report.
Connected Entities
1 entities · 10 linked investigationsTimeline(10 events)
2021-01-01
Shawn Liu founds Foresight Ventures, a Singapore-based crypto venture capital fund connected to the Bitget ecosystem.
Foresight Ventures Crunchbase profile2023-11-01
BGX Group, linked to Liu, invests approximately USD $91 million in BC Technology Group (parent of OSL), making Liu the largest shareholder of BC Technology with a 29.97% stake.
South China Morning Post2026-04-01
RAVE token crashes approximately 95% from its peak. ZachXBT alleges insiders controlled more than 90% of circulating supply and ran coordinated pump-and-dump operations across multiple exchanges including Bitget. Bitget opens an internal investigation.
Bitcoin.com News; Bitget News2026-04-20
Bitget discloses approximately USD $100 million in losses from an exploit of its market-making bot via VOXEL perpetual futures trading. Eight accounts exploited a pricing flaw. Bitget announces legal action against the accounts.
CoinTelegraph; Blocmates2026-05-01
LAB token surges more than 350% over approximately 72 hours. On-chain data allegedly shows wallets connected to the LAB team deposited approximately 96 million LAB tokens (valued near USD $63 million) into Bitget prior to the surge.
Bitcoin.com News; Whale Alert2026-05-12
ZachXBT publicly names Shawn Liu as Bitget's 'big boss' and alleged true decision-maker, accusing him of enabling scam activity and market manipulation while CEO Gracy Chen serves as the public face. ZachXBT labels Bitget part of a 'Chinese CEX cartel' and warns of further disclosures.
The Crypto Times; Bitcoin.com News; Protos2026-05-12
Ten newly created wallets withdraw approximately 100 million LAB tokens (roughly 32% of circulating supply, then valued at approximately USD $480 million) from Bitget's hot wallet within a 12-hour window.
Protos; The Crypto Times2026-05-14
ZachXBT publishes follow-on investigation alleging insiders control approximately 95% of the LAB token supply. Names Vova Sadkov as the alleged scheme architect and offers a USD $10,000 bounty for proof of manipulation.
The Crypto Times; Bitcoin.com News2026-08-09
Abnormal mark prices in Bitget's TUT, BICO, and LOBSTER perpetual contracts cause approximately USD $40 million in forced-liquidation losses for users. Bitget CEO Gracy Chen publicly acknowledges failures and announces a USDT compensation plan and system upgrades.
NullTX; PANews2026-08-12
ZachXBT conditionally praises Bitget's confiscation of manipulator profits in the TUT/BICO/LOBSTER incident, calling it 'a positive change' while noting the earlier LAB and RAVE cases remain unresolved.
NullTXDecision Log
- #1publish⛓ pending8/19/2026, 12:08:52 PMhash: GN3HWE4nm5CxtureMYC1TrsUhw47W424YpL5NqR28Qyj
16 of 17 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 8/19/2026, 12:08:43 PM
last updated: 8/19/2026, 3:28:34 PM
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