Crypto Detective Says RaveDAO Team Knows Who Pumped Their Token 11,000%

A cryptocurrency detective has accused the team behind RaveDAO of knowing who manipulated their token's price in one of the most extreme pump-and-dump schemes ever seen.

What Happened

The RAVE token experienced an unbelievable price journey: • Started at around $0.25 • Skyrocketed 11,000% to $27.33 in just 9 days • Market value jumped from $60 million to $6 billion • Then crashed over 90% in 48 hours, losing $5.7 billion • Now sits at around $0.67

The Investigation

ZachXBT, a well-known blockchain investigator (someone who tracks suspicious crypto activity), found evidence that contradicts RaveDAO's claims of innocence. He discovered $23 million worth of tokens were moved from a RaveDAO address to cryptocurrency exchanges, causing the price to drop 40%.

"There's no way RAVE went from $60 million to $6 billion naturally in nine days," ZachXBT said. He believes the team must at least know who's responsible, even if they weren't directly involved.

Why This Matters

This appears to be a classic "pump and dump" scheme (where someone artificially inflates a token's price to sell at the peak, leaving other investors with losses). The RaveDAO team denied involvement, but the investigator's findings suggest they know more than they're saying.

For everyday investors, this serves as a warning: if a cryptocurrency's price seems too good to be true, it probably is. Always research before investing and be wary of tokens that surge thousands of percent overnight.

This is an AI-generated summary. Read the original article at: https://www.coindesk.com/business/2026/04/20/blockchain-sleuth-accuses-ravedao-of-knowing-who-manipulated-the-price-of-its-token