PANews April 18 news, on-chain detective ZachXBT posted on platform X that the pump and dump behavior of the RAVE token ($RAVE) is suspected to originate from three CEXs: Bitget, Binance, and Gate. He called for these CEXs to strengthen internal investigations and accountability and to expel the responsible parties. ZachXBT stated that the related manipulation might be led by internal personnel who control over 90% of RAVE liquidity, thus continuously harvesting retail investors.

In addition, ZachXBT announced that he will personally provide a reward of up to $10,000, encouraging informants to anonymously submit related evidence to expose the specific entities involved in the incident.

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