Six tokens have followed the same script in 2026. Each one launched with an AI or DeFi narrative. Each one pumped between 350% and 11,000% in days. Each one crashed after onchain investigators found that insiders controlled 90% to 95% of supply. And in at least three cases, the same wallet addresses showed up across multiple projects.
ZachXBT named them: RAVE, SIREN, LAB, RIVER, SKYAI, and MYX. He called it “everything wrong with the current meta of retail extraction on major centralized exchanges.”
The Pattern Is Always the Same
Step one: launch a token with a small public float and keep 90%+ in insider wallets. Step two: get listed on Bitget, Gate, and eventually Binance perps. Step three: deposit millions of tokens to exchange addresses and let them sit dormant for weeks. Step four: activate a market maker, pump the price, generate volume that attracts retail. Step five: let retail provide exit liquidity while insiders distribute through OTC deals at 60% to 80% discounts.
The most documented case is LAB. ZachXBT published onchain receipts showing 95% insider supply control behind a $6 billion FDV. The founders previously ran Eesee, a token that dropped 93%. Between March and April, 226 million LAB tokens moved to Bitget deposit addresses. They sat dormant. Then 100 million were withdrawn to 10 fresh addresses days before a 350% pump.
SIREN: $1.5 Billion Held by One Cluster of 200 Wallets
BubbleMaps flagged SIREN on March 22. A single cluster of over 200 wallets controlled roughly 50% of circulating supply, worth $1.5 billion at peak. “This only ends one way,” BubbleMaps wrote. Hours later, SIREN crashed 78% from $4.60 to under $1. The cluster acquired tokens in June and February 2025, then split them across 47 addresses through PancakeSwap. ZachXBT linked the wallets to DWF Labs, connecting them to obscure DWF-affiliated tokens including LADYS, RACA, and TOMO.
RAVE: 11,000% Up, 95% Down, Same Borsas
RAVE went from $0.25 to $27 in nine days. Market cap hit $6 billion. Then it dropped 95% in 48 hours, erasing $5.7 billion. ZachXBT said addresses tied to RaveDAO’s initial distribution sent $23 million worth of tokens to Bitget deposit addresses, causing a 40% drop from $1 to $0.60 in a single move. The project denied involvement. ZachXBT responded: “Given the supply concentration, the team at minimum knows who is responsible.”
SKYAI and RIVER: The Same Wallet Trail
SpecterAnalyst linked the same wallet that aggressively bought LAB onchain to previous activity in SKYAI. In April 2025, 800 million SKYAI tokens were transferred to an “airdrop distribution” wallet. Most recipient addresses were freshly created and allegedly controlled by the same entities. In March 2026, funds from those wallets consolidated and deposited to Gate and Bitget. RIVER followed the same pattern. It peaked above $80 and now trades at $6.78. A signer on LAB’s multisig wallets received funds from an address ZachXBT linked to the RIVER manipulation, which moved over $12 million to centralized exchange deposits.
Bitget Is the Common Venue. That Is Not a Coincidence.
Every token in this group used Bitget as the primary exchange for insider deposits and market maker activity. Binance and Gate served as secondary channels. ZachXBT accused Bitget CEO Shawn Liu directly. Bitget confirmed an investigation into RAVE weeks ago but has not published results. When LAB surfaced, the same promise followed. Americans lost over $11 billion to crypto scams in 2025 according to the FBI. Schemes like this are a growing share of that number.
The irony is that legitimate trading platforms exist where 73% of traders actually made money in April. The difference: transparent onchain mechanics versus opaque OTC deals and dormant exchange deposits. When the float is unknown, the vesting is changeable, and the market maker is unnamed, the only guaranteed outcome is that insiders exit before retail figures out what happened.
