Blockchain sleuth accuses RaveDAO of knowing who manipulated the price of its token
CoinDesk
Blockchain investigator ZachXBT alleges RaveDAO is aware of the parties behind the extreme price manipulation of its RAVE token.Summary
Blockchain researcher ZachXBT has accused the team behind RaveDAO of having knowledge regarding the extreme volatility of the RAVE token. The token experienced an unusual 11,000% surge, inflating its market capitalization from $60 million to $6 billion, followed by a rapid collapse. ZachXBT identified suspicious centralized exchange activity linked to RaveDAO addresses and argues that, given the token's supply concentration and initial distribution, the team must be aware of the entities responsible for the price manipulation. RaveDAO has publicly denied involvement in the price action, but the investigator maintains that the scale of the movement and the lack of utility make organic growth highly improbable.
(Source：CoinDesk)