$RAVE cost $75k to create 10,500 fake wallets holding under $10 each. that passed holder count requirements on binance, bitget, and coinbase. got listed, hit $27b FDV, insiders dumped. 335,000% ROI on a sybil attack against exchange listing standards. the fix is trivial. require minimum holding thresholds per wallet, cap top 10 concentration at 30%, monitor distribution post-listing. exchanges know this. they list anyway because listing fees print. the next RAVE is already in the queue and the gates are still wide open.
Pump and dump activity for $RAVE originated on @bitget@binance@Gate
Call to action for both @heyibinance@GracyBitget to do better and launch internal investigation offboarding the responsible actors.
Offering up to $10K bounty of my personal funds for whistleblowers to come forward privately to share evidence about parties involved
We cannot allow this blatant market manipulation by insiders controlling >90% RAVE support to further extract from retail investors.
@solsticefi actually had a decent mechanism for the airdrop, anyone with a meaningful contribution isnt crying about 7$
the 1.4m wallet "eligibility" basically represents baited sybillers and low effort wallets
@uhonyn@RaveDAO mms do whatever they want, 95% supply control doesnt happen without it being sponsored
coordination across exchanges doesnt happen without collusion