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Bitget accused of enabling market maker fraud manipulating RAVE, RIVER, SIREN, and LAB tokens.

Market News
18 May 2026
Bitcoin
View Source
Bearish
Bitget accused of enabling market maker fraud manipulating RAVE, RIVER, SIREN, and LAB tokens.

Blockchain investigator ZachXBT accused Bitget of allowing market makers to manipulate token supplies on RAVE, RIVER, SIREN, and LAB, harming retail traders. Significant token movements, especially 100 million LAB tokens worth $480 million withdrawn in 12 hours, suggest insider control and price manipulation. ZachXBT named Bitget’s founder Shawn Liu as a key enabler and offered a $10,000 bounty for proof of LAB manipulation. This case highlights a broader pattern of alleged fraud involving Chinese crypto exchanges, with ongoing investigations and potential market impacts.

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