Bitget’s Grand Circus: ZachXBT Exposes the Clowns of Crypto Fraud

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Ah, the grand theater of the blockchain! Our intrepid investigator, ZachXBT, has once again taken center stage, wielding his pen like a sword against the shadowy puppeteers of Bitget. With a flourish, he accuses the exchange of being the willing accomplice in a farcical scheme of market manipulation, a spectacle so absurd it could only be dreamed up in the wildest corners of the crypto carnival.

  • The Highlights of This Tragicomedy:

  • ZachXBT points his finger at Bitget, claiming they’ve turned a blind eye to market makers pulling the strings on RAVE, RIVER, SIREN, and LAB tokens.
  • In a move as swift as a pickpocket, ten wallets snatched 100M LAB tokens ($480M, a cool 32% of the supply) from Bitget in just 12 hours. Bravo, comrades!
  • ZachXBT, ever the showman, has placed a $10K bounty on the head of evidence linking Bitget’s founder, Shawn Liu, to the LAB scandal. Will the curtain rise on the truth?

Bitget: The Ringmaster of Supply Control Manipulation

In a tweet that echoed through the digital bazaar, ZachXBT accused Bitget of allowing “sketchy active market makers” to fleece retail traders with their supply control schemes. He named four tokens-RAVE, RIVER, SIREN, and LAB-as the unfortunate stars of this charade. When confronted, Bitget, like a seasoned actor, promised an investigation but left the audience waiting for the encore.

This latest act follows a months-long saga, with ZachXBT’s most damning investigation centered on LAB, the token of an AI trading terminal project. According to his findings, insiders control a staggering 95% of the LAB token supply, a concentration so extreme it makes genuine price discovery as likely as a honest man in a den of thieves.

The token’s price soared from $0.68 to over $4.00 in just five days in early May, pushing its fully diluted valuation (FDV) above $6 billion. Onchain data revealed that wallets linked to the LAB team had moved 96 million LAB tokens, worth $63 million, into Bitget ahead of the surge. A coincidence? Or a well-rehearsed act of deception?

The aftermath was as swift as it was brutal. Ten newly created wallets withdrew 100 million LAB tokens, representing 32% of the circulating supply and valued at $480 million, from Bitget’s hot wallet in a mere 12 hours. ZachXBT, ever the detective, identified LAB founder Vova Sadkov (alias vsadkovv) as the alleged mastermind and offered a $10,000 bounty for definitive proof of the manipulation. Will the culprit be unmasked, or will the show go on?

The Systemic Contagion: A “Chinese CEX Cartel” in Action

LAB was but one act in this grand circus, as RAVE’s 68% crash and subsequent 95% plummet from its peak served as a stark reminder of the systemic nature of these schemes. Fresh manipulation warnings rippled through other projects, a contagion ZachXBT had predicted, arguing that the same playbook is used across multiple tokens via Chinese exchanges.

In an earlier escalation, ZachXBT named Shawn Liu, Bitget’s founder and chairman, as the key enabler behind these schemes, operating in the shadows while CEO Gracy Chen takes the public stage. He vowed to continue his campaign against the “Chinese CEX cartel,” a battle that promises to be as dramatic as it is necessary.

And so, the curtain falls-for now. But in the world of crypto, the show must always go on. Will Bitget face the music, or will they simply change the act? Only time will tell, comrades. Only time will tell.

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2026-05-18 23:27