Blockchain investigator ZachXBT accused Bitget this week of knowingly enabling market makers to run supply control manipulation schemes targeting retail traders. The tokens RAVE, RIVER, SIREN, and LAB were identified as victims in the alleged fraud. This charge extends ZachXBT's months-long campaign against what he calls a 'Chinese CEX cartel'.
How the Manipulation Worked
ZachXBT claims Bitget allowed market makers to control token supplies through specific trading patterns. Market makers allegedly used Bitget's platform to distort prices for retail traders. The exchange reportedly turned a blind eye to these activities.
The Four Tokens Targeted
RAVE took the hardest hit in the alleged scheme. RIVER and SIREN tokens showed similar manipulation patterns. LAB was also named as a victim in the report. All four tokens faced unusual volatility according to the investigation.
ZachXBT's CEX Campaign
The investigator has pursued this strategy for months. His reports have focused on centralized exchanges he claims form a cartel. This latest accusation fits that ongoing effort. He says the evidence points to coordinated market abuse.
What Happens Next
Regulators haven't commented on the allegations yet. Bitget hasn't issued an official response to ZachXBT's claims. The investigator says he's sharing his evidence with relevant agencies this week.
