{"investigation":{"slug":"rain-protocol","entity_name":"Rain Protocol","trust_score":25,"severity_base":26,"score_modifier":-1.4,"confidence":0.72,"status":"published","content_type":"investigation","summary":"Rain Protocol (RAIN) is a prediction-market infrastructure protocol on Arbitrum whose token reached an approximately $8.8–9 billion fully diluted valuation by June 2026, despite about $27.2 million in TVL denominated entirely in RAIN and roughly $1 million in annual fees. On-chain investigator ZachXBT alleged that 99.97% of the supply sits in 81 wallets and that deployer-linked wallets share funding trails with the DOP and TOMI networks, which he ties to Israeli entrepreneur Moshe Hogeg, who faces a recommended $290 million fraud indictment; he also offered a $100,000 bounty for evidence of CEX market manipulation. Nasdaq-listed Enlivex Therapeutics holds a large RAIN treasury; Rain Protocol has not publicly responded, and no regulatory action has been taken against it.","sections":[{"content":"Rain Protocol describes itself as infrastructure for permissionless prediction market creation and trading on the Arbitrum blockchain, positioning itself as 'the Uniswap of prediction markets.' Rather than operating as a single consumer application, the protocol is designed as a shared liquidity layer upon which third-party developers can build. The RAIN token functions as a governance and utility token, supporting liquidity incentives, ecosystem growth, and a deflationary buyback-and-burn mechanism. By late May 2026, Rain had entered the global top three prediction markets by total value locked, according to promotional materials and Enlivex treasury updates, joining Polymarket and Kalshi. By June 2026, RAIN had reached an approximately $8.8 billion to $9 billion fully diluted valuation, briefly placing it among the top 15 cryptocurrencies globally. Protocol metrics cited by ZachXBT from DefiLlama show $27.2 million in total value locked on Arbitrum, composed entirely of the native RAIN token, generating approximately $1 million in annual fees.","heading":"Protocol Overview","sources":[{"url":"https://atomicwallet.io/academy/articles/what-is-rain-protocol","name":"What Is Rain Protocol? The Prediction Market Infrastructure on Arbitrum - Atomic Wallet Academy","type":"other","credibility":3},{"url":"https://crypto.news/zachxbt-warns-traders-to-avoid-rain-protocol-over-8-8b-valuation/","name":"ZachXBT warns traders to avoid Rain Protocol over $8.8B valuation - crypto.news","type":"news_article","credibility":2},{"url":"https://www.rain.one/","name":"Rain Protocol - rain.one official site","type":"official","credibility":2},{"url":"https://www.nasdaq.com/press-release/enlivex-treasury-portfolio-update-rain-protocol-jumps-top-three-global-prediction","name":"Enlivex Treasury Portfolio Update: Rain Protocol Jumps Into Top Three - Nasdaq","type":"official","credibility":1}],"severity":"medium"},{"content":"ZachXBT, a pseudonymous on-chain investigator, published findings on May 31, 2026, expanded on June 5, 2026, alleging that 99.97% of RAIN's total supply is held by 81 wallets. According to ZachXBT, this extreme concentration is inconsistent with an organically distributed asset and is consistent with a structure in which insider-controlled addresses can exert near-total influence over token price and liquidity, with retail buyers effectively providing exit liquidity to insiders. He stated: 'I do not encourage trading these type of tokens as you only provide exit liquidity for insiders.' ZachXBT further alleged that the RAIN deployer address (identified as 0xa35e61cb836ae15f2d7d400efb49bda7222b98bc) and related wallets actively manage Uniswap V3 liquidity positions in a pattern consistent with coordinated price management; he identified 0x7c10f934c84a0aefaffd3334463c245a311cc967 and 0x7706342d38d3fd957c7061ac87a98f21f1cb53aa as additional addresses allegedly used in this activity. The Rain Foundation's $100 million liquidity commitment, announced via Enlivex in late May 2026, comprised $50 million in USDT and $50 million in RAIN itself; critics cited this circular composition as raising questions about how much of the liquidity was independent of the token. These are alleged findings from on-chain analysis and have not been adjudicated by any court or regulatory body.","heading":"Token Supply Concentration and Alleged Price Management","sources":[{"url":"https://nulltx.com/zachxbt-flags-rain-token-as-possible-insider-pump-after-9-billion-fdv-surge-with-99-97-of-supply-held-by-81-wallets/","name":"ZachXBT Flags RAIN Token as Possible Insider Pump After $9 Billion FDV Surge With 99.97% of Supply Held by 81 Wallets - NullTX","type":"news_article","credibility":2},{"url":"https://nulltx.com/zachxbt-warns-traders-to-avoid-8-8b-market-cap-rain-protocol-raises-bounty-to-100000/","name":"ZachXBT Warns Traders to Avoid $8.8B Market Cap Rain Protocol, Raises Bounty to $100,000 - NullTX","type":"news_article","credibility":2},{"url":"https://crypto.news/rain-tokens-9b-surge-faces-zachxbt-insider-warning/","name":"RAIN token's $9B surge faces ZachXBT insider warning - crypto.news","type":"news_article","credibility":2},{"url":"https://www.theglobeandmail.com/investing/markets/markets-news/Tipranks/2175802/enlivex-highlights-100m-liquidity-boost-for-rain-as-treasury-backed-prediction-market-enters-global-top-three/","name":"Enlivex highlights $100M liquidity boost for Rain as treasury-backed prediction market enters global top three - The Globe and Mail","type":"news_article","credibility":2}],"severity":"critical"},{"content":"On June 5, 2026, ZachXBT published specific wallet addresses and transaction timestamps alleging that RAIN team addresses share funding trails with the Data Ownership Protocol (DOP) and TOMI ecosystems. Key alleged findings include: (1) Address 0xa35e61cb836ae15f2d7d400efb49bda7222b98bc, described as linked to the RAIN deployer, sent dust to 0xbac19cb634c34baf7670263ccc74806a2d004fb0 on October 14, 2025 at 3:31:47 PM UTC. (2) Address 0xa810e14e2ee46e1e25e56bcf280208b78242d5d1, described as the TOMI team multisig and a centralized exchange deposit address, sent dust to the same 0xbac1 address 36 seconds earlier, at 3:31:11 PM UTC on the same date. (3) In December 2025, 0xbac19cb634c34baf7670263ccc74806a2d004fb0 allegedly received funds from address 0xf205, which had itself previously received funds from a DOP multisig. (4) Address 0xa810 allegedly transferred funds in February 2025 to a wallet that sent those funds to the DOP deployer's centralized exchange deposit address. ZachXBT characterized the source of funds as routing through the Gems.vip hot wallet and centralized exchange deposit addresses that had previously moved funds for both DOP and TOMI, suggesting potential team overlap. Gems.vip is the launchpad through which RAIN was initially distributed and which also hosted DOP's presale. These are ZachXBT's interpretations of on-chain data and have not been independently verified by law enforcement or a third-party auditor.","heading":"Alleged On-Chain Links to DOP and TOMI Networks","sources":[{"url":"https://www.cryptotimes.io/2026/06/05/zachxbt-traces-rain-teams-wallets-to-networks-behind-dop-and-tomi/","name":"ZachXBT Traces RAIN Team's Wallets to Networks Behind DOP and TOMI - CryptoTimes","type":"news_article","credibility":2},{"url":"https://crypto.news/zachxbt-warns-traders-to-avoid-rain-protocol-over-8-8b-valuation/","name":"ZachXBT warns traders to avoid Rain Protocol over $8.8B valuation - crypto.news","type":"news_article","credibility":2}],"severity":"critical"},{"content":"ZachXBT alleged that DOP, TOMI and Sirin Labs all trace back to Israeli entrepreneur Moshe Hogeg, and that the wallet links between RAIN and those networks imply a potential relationship to Hogeg's ecosystem. No public record directly names Hogeg as a participant in Rain Protocol, and ZachXBT's investigation stops at on-chain wallet overlap rather than asserting his direct involvement. Hogeg was arrested by Israeli police on November 18, 2021, along with seven other suspects, on suspicion of fraud, money laundering and sexual offenses, and was released to house arrest on approximately $22 million bail in December 2021. In August 2023, the Israeli National Fraud Investigations Unit recommended that prosecutors indict him for allegedly defrauding investors of approximately $290 million across four cryptocurrency projects between 2017 and 2018; recommended charges included aggravated fraud, theft by an authorized person, conspiracy, false registration of corporate documents, forgery, money laundering and tax violations. The cases were referred to prosecutors for review, and Hogeg has denied all financial fraud allegations. His past ventures include Sirin Labs (approximately $158 million 2017 ICO), Stox (approximately $34 million ICO), Leadcoin (approximately $58 million ICO) and TomiNet/TOMI. The TOMI token launched in January 2023, rose to a high of $6.59 and then fell to approximately $0.05, collapsing its market capitalization from roughly $350 million at peak. DOP raised approximately $162 million in a 2024 token sale.","heading":"Alleged Connection to Moshe Hogeg and His Prior Fraud Case","sources":[{"url":"https://www.cryptotimes.io/2026/06/05/zachxbt-traces-rain-teams-wallets-to-networks-behind-dop-and-tomi/","name":"ZachXBT Traces RAIN Team's Wallets to Networks Behind DOP and TOMI - CryptoTimes","type":"news_article","credibility":2},{"url":"https://www.timesofisrael.com/beitar-jerusalem-owner-arrested-for-alleged-massive-crypto-fraud-sex-crimes/","name":"Beitar Jerusalem owner Hogeg arrested for alleged massive crypto fraud - Times of Israel","type":"news_article","credibility":1},{"url":"https://www.timesofisrael.com/police-seek-charges-in-fraud-case-against-crypto-businessman-moshe-hogeg/","name":"Police seek charges in fraud case against crypto businessman Moshe Hogeg - Times of Israel","type":"news_article","credibility":1},{"url":"https://news.bitcoin.com/israeli-police-accuse-crypto-businessman-moshe-hogeg-of-290-million-fraud/","name":"Israeli Police Accuse Crypto Businessman Moshe Hogeg of $290 Million Fraud - Bitcoin News","type":"news_article","credibility":1},{"url":"https://www.coindesk.com/policy/2021/11/18/crypto-heavyweight-moshe-hogeg-reportedly-arrested-in-israel","name":"Crypto Heavyweight Moshe Hogeg Reportedly Arrested in Israel - CoinDesk","type":"news_article","credibility":1},{"url":"https://www.bloomberg.com/news/articles/2023-08-23/israeli-police-accuse-investor-hogeg-of-290-million-crypto-scam","name":"Israeli Police Accuse Investor Moshe Hogeg of $290 Million Crypto Scam - Bloomberg","type":"news_article","credibility":1},{"url":"https://protos.com/crypto-investors-burnt-again-by-israeli-entrepreneur-moshe-hogeg/","name":"Crypto investors burnt again by Israeli entrepreneur Moshe Hogeg - Protos","type":"news_article","credibility":2}],"severity":"high"},{"content":"ZachXBT characterized Rain Protocol as having 'few users, limited product traction, no major backers, and a team with little public history in crypto' while carrying an $8.8 billion market capitalization. DefiLlama data cited in his investigation showed approximately $27.2 million in total value locked on Arbitrum, composed entirely of the illiquid RAIN token, with roughly $1 million in annual fees. By comparison, Polymarket carried a reported valuation of about $15 billion on over $62 billion in cumulative trading volume, and Kalshi was valued at about $22 billion and holds CFTC regulatory approval. The Rain Foundation's claim of entering the top three prediction markets globally rests on TVL denominated in its own native token, which critics say obscures the liquidity actually available to market participants. RAIN rose 44% in a single day around the time of the top-three announcement.","heading":"Valuation vs. Protocol Fundamentals","sources":[{"url":"https://nulltx.com/zachxbt-warns-traders-to-avoid-8-8b-market-cap-rain-protocol-raises-bounty-to-100000/","name":"ZachXBT Warns Traders to Avoid $8.8B Market Cap Rain Protocol, Raises Bounty to $100,000 - NullTX","type":"news_article","credibility":2},{"url":"https://crypto.news/zachxbt-warns-traders-to-avoid-rain-protocol-over-8-8b-valuation/","name":"ZachXBT warns traders to avoid Rain Protocol over $8.8B valuation - crypto.news","type":"news_article","credibility":2},{"url":"https://beincrypto.com/rain-token-jumps-44-in-a-day-as-protocol-joins-top-3-prediction-markets/","name":"RAIN Token Jumps 44% In a Day as Protocol Joins Top 3 Prediction Markets - BeInCrypto","type":"news_article","credibility":2}],"severity":"high"},{"content":"In November 2025, Enlivex Therapeutics Ltd. (Nasdaq: ENLV), an Israel-based clinical-stage biotech firm with a market capitalization of approximately $22 million at the time, announced a $212 million private placement (PIPE) to fund a RAIN token treasury described as 'the world's first prediction markets digital asset treasury strategy.' The offering consisted of approximately 212 million ordinary shares at $1.00 each, an 11.5% premium to the November 21, 2025 closing price, and closed on approximately November 25, 2025. RAIN rose more than 120% on the announcement. Concurrently, former Italian Prime Minister Matteo Renzi was named to Enlivex's board. Enlivex reported holding 79,568,550,005 RAIN tokens valued at approximately $1.16 billion in its May 28, 2026 update, and approximately 79.57 billion RAIN valued at roughly $1.14 billion as of June 20, 2026. It also holds an option to acquire up to approximately 271.4 billion (271,372,418,179) additional RAIN from the Rain Foundation at $0.0033 per token, expiring December 31, 2027. ZachXBT questioned the structural relationship between Enlivex and the Rain team, though he did not allege specific misconduct by Enlivex in published reports. The concentration of RAIN in a single Nasdaq-listed entity adds an unusual structural layer to the token's market dynamics, and the PIPE has been noted as a mechanism that may have amplified RAIN's price appreciation.","heading":"Enlivex Therapeutics Treasury Strategy","sources":[{"url":"https://www.globenewswire.com/news-release/2025/11/24/3193408/0/en/Enlivex-Announces-212-000-000-Private-Placement-to-Initiate-World-s-First-Prediction-Markets-Digital-Asset-Treasury-Strategy-via-RAIN-token-Accumulation-and-the-Appointment-of-Matt.html","name":"Enlivex Announces $212,000,000 Private Placement to Initiate RAIN Token Treasury Strategy - GlobeNewswire","type":"official","credibility":1},{"url":"https://www.coindesk.com/business/2025/11/24/microcap-biotech-firm-raises-usd212m-for-prediction-market-token-treasury-strategy","name":"Enlivex Therapeutics Raises $212M for RAIN Prediction Market Token Treasury Strategy - CoinDesk","type":"news_article","credibility":1},{"url":"https://www.theblock.co/post/380139/enlivex-plans-212-million-fundraise-rain-token-treasury-prediction-markets-dat","name":"Nasdaq-listed Enlivex plans $212 million fundraise for Rain token treasury - The Block","type":"news_article","credibility":1},{"url":"https://www.globenewswire.com/news-release/2026/05/28/3302780/0/en/enlivex-treasury-portfolio-update-rain-holdings-valued-at-approximately-1-16-billion-rain-foundation-appoints-industry-leaders-to-advisory-board.html","name":"Enlivex Treasury Portfolio Update: RAIN Holdings Valued at Approximately $1.16 Billion - GlobeNewswire","type":"official","credibility":1},{"url":"https://www.quiverquant.com/news/Enlivex+Reports+$1.14+Billion+Value+in+RAIN+Token+Holdings+as+of+June+20,+2026","name":"Enlivex Reports $1.14 Billion Value in RAIN Token Holdings as of June 20, 2026 - Quiver Quantitative","type":"news_article","credibility":2}],"severity":"high"},{"content":"RAIN was listed on Kraken on February 9, 2026, and on HTX (formerly Huobi) in April 2026; it was also available on MEXC, LBank and BitMart. On June 5, 2026, ZachXBT downgraded Kraken from S-tier to B-tier in his centralized exchange ranking, citing its listing of tokens he characterized as low-quality or manipulated, naming RAIN alongside M, RIVER and RAVE, and describing these listings as facilitating exit liquidity for insiders at retail investors' expense. As of June 1, 2026, Kraken had announced a scheduled delisting review cycle for RAIN as part of its regular asset review process.","heading":"Exchange Listings and Kraken Downgrade","sources":[{"url":"https://cryptoadventure.com/zachxbt-downgrades-kraken-to-b-tier-over-token-listings-and-breach-response/","name":"ZachXBT Downgrades Kraken To B-Tier Over Token Listings And Breach Response - CryptoAdventure","type":"news_article","credibility":2},{"url":"https://blog.kraken.com/product/asset-listings/rain-is-available-for-trading","name":"RAIN is available for trading - Kraken Blog","type":"official","credibility":1},{"url":"https://www.stocktitan.net/news/ENLV/enlivex-treasury-portfolio-update-new-listing-of-the-rain-token-on-ilu1cukxzqq4.html","name":"Enlivex Treasury Portfolio Update: New Listing of RAIN on Kraken - StockTitan","type":"news_article","credibility":2},{"url":"https://www.globenewswire.com/news-release/2026/04/30/3284843/0/en/enlivex-treasury-portfolio-update-listing-of-the-rain-token-on-htx-a-leading-cryptocurrency-exchange.html","name":"Enlivex Treasury Portfolio Update: Listing of the RAIN Token on HTX - GlobeNewswire","type":"official","credibility":1}],"severity":"high"},{"content":"On June 5, 2026, ZachXBT urged followers to 'avoid Rain at all costs' and raised a personal bounty to $100,000 for any insider able to provide business contracts, full chat logs or similar documentation of centralized exchange market manipulation connected to Rain Protocol. The bounty targets evidence of coordinated manipulation between the RAIN team or affiliated parties and exchange personnel. ZachXBT alleged that deployer-linked addresses used Uniswap V3 liquidity pools while routing spot transfers through the Gems.vip hot wallet, a pattern he characterized as consistent with price manipulation. No documentation of CEX manipulation had been publicly surfaced as of the date of these reports, and ZachXBT acknowledged that the bounty reflects the absence of such documentation rather than its existence.","heading":"$100,000 Bounty and Alleged CEX Manipulation","sources":[{"url":"https://nulltx.com/zachxbt-warns-traders-to-avoid-8-8b-market-cap-rain-protocol-raises-bounty-to-100000/","name":"ZachXBT Warns Traders to Avoid $8.8B Market Cap Rain Protocol, Raises Bounty to $100,000 - NullTX","type":"news_article","credibility":2},{"url":"https://cryptopotato.com/avoid-rain-at-all-costs-zachxbt-raises-red-flags-over-8-8b-prediction-market-project/","name":"Avoid Rain at All Costs: ZachXBT Raises Red Flags Over $8.8B Prediction Market Project - CryptoPotato","type":"news_article","credibility":2}],"severity":"critical"},{"content":"ZachXBT's May 31, 2026 warning alleged that RAIN's rapid rise was accompanied by undisclosed paid promotion on social media, including amplification by accounts affiliated with Polymarket, without clear disclosure of compensation; he characterized the pattern as coordinated promotion rather than organic discovery. He also pointed to promotion through the Enlivex digital asset treasury and the Gems.vip launchpad, which he described as 'sketchy' and as having a questionable history. These claims, if substantiated, could raise issues in jurisdictions that require disclosure of paid token promotions. No regulatory action had been announced in connection with Rain Protocol's promotional practices as of the date of reporting.","heading":"Alleged Undisclosed Promotion","sources":[{"url":"https://nulltx.com/zachxbt-flags-rain-token-as-possible-insider-pump-after-9-billion-fdv-surge-with-99-97-of-supply-held-by-81-wallets/","name":"ZachXBT Flags RAIN Token as Possible Insider Pump After $9 Billion FDV Surge With 99.97% of Supply Held by 81 Wallets - NullTX","type":"news_article","credibility":2}],"severity":"medium"},{"content":"Rain Protocol's team identity has not been publicly established in verifiable records. ZachXBT characterized the co-founder(s) as having limited prior crypto industry experience and no verifiable mutual connections with established participants, and as having 'appeared with nine figures of capital and infrastructure from essentially nowhere.' The project's About page on rain.one does not list named founders with verifiable public profiles, and no regulatory filings or court records had identified Rain Protocol's principals by name. The team's opacity is a risk factor given the scale of capital involved through the Enlivex treasury.","heading":"Team Opacity","sources":[{"url":"https://nulltx.com/zachxbt-flags-rain-token-as-possible-insider-pump-after-9-billion-fdv-surge-with-99-97-of-supply-held-by-81-wallets/","name":"ZachXBT Flags RAIN Token as Possible Insider Pump After $9 Billion FDV Surge With 99.97% of Supply Held by 81 Wallets - NullTX","type":"news_article","credibility":2},{"url":"https://www.rain.one/about-us","name":"About Us - Rain Protocol","type":"official","credibility":2}],"severity":"high"},{"content":"As of the published reports, Rain Protocol had not issued a public response to ZachXBT's allegations on supply concentration, the DOP and TOMI wallet links, undisclosed promotion, valuation versus fundamentals, or the CEX manipulation bounty. No blog post, official tweet or press release from rain.one or the Rain Foundation addressing these claims had been identified, and Crypto Times reported that it requested comment from the Rain team and received no reply before publication. The absence of a public response does not in itself confirm any of the allegations.","heading":"No Public Response from Rain Protocol","sources":[{"url":"https://www.cryptotimes.io/2026/06/05/zachxbt-traces-rain-teams-wallets-to-networks-behind-dop-and-tomi/","name":"ZachXBT Traces RAIN Team's Wallets to Networks Behind DOP and TOMI - CryptoTimes","type":"news_article","credibility":2},{"url":"https://crypto.news/zachxbt-warns-traders-to-avoid-rain-protocol-over-8-8b-valuation/","name":"ZachXBT warns traders to avoid Rain Protocol over $8.8B valuation - crypto.news","type":"news_article","credibility":2}],"severity":"medium"}],"timeline":[{"date":"2017","event":"Moshe Hogeg allegedly raises approximately $290 million across four cryptocurrency projects (2017–2018) under alleged false pretenses, including Sirin Labs (~$158M ICO), Stox (~$34M ICO) and Leadcoin (~$58M ICO).","source":"Times of Israel / Bitcoin News","source_url":"https://www.timesofisrael.com/police-seek-charges-in-fraud-case-against-crypto-businessman-moshe-hogeg/"},{"date":"2021-11","event":"Moshe Hogeg, later associated with TOMI and DOP, is arrested by Israeli police on November 18, 2021 along with seven others on suspicion of fraud, money laundering and sexual offenses.","source":"CoinDesk / Times of Israel","source_url":"https://www.coindesk.com/policy/2021/11/18/crypto-heavyweight-moshe-hogeg-reportedly-arrested-in-israel"},{"date":"2021-12","event":"Moshe Hogeg released to house arrest on approximately $22 million bail; he denies the allegations.","source":"Crypto Times","source_url":"https://www.cryptotimes.io/2026/06/05/zachxbt-traces-rain-teams-wallets-to-networks-behind-dop-and-tomi/"},{"date":"2023-08","event":"Israeli National Fraud Investigations Unit recommends indicting Moshe Hogeg for an alleged $290 million cryptocurrency fraud, with charges including aggravated fraud, money laundering and tax violations; cases referred to prosecutors. Hogeg denies the charges.","source":"Bloomberg / Times of Israel","source_url":"https://www.bloomberg.com/news/articles/2023-08-23/israeli-police-accuse-investor-hogeg-of-290-million-crypto-scam"},{"date":"2024-04","event":"Data Ownership Protocol (DOP), a project ZachXBT later links to RAIN via shared wallet trails, raises approximately $162 million in a token sale.","source":"CryptoTimes","source_url":"https://www.cryptotimes.io/2026/06/05/zachxbt-traces-rain-teams-wallets-to-networks-behind-dop-and-tomi/"},{"date":"2025-10","event":"On October 14, 2025, the alleged RAIN deployer address 0xa35e and the alleged TOMI team multisig 0xa810 send dust to common recipient 0xbac1 within 36 seconds, according to ZachXBT's analysis.","source":"CryptoTimes","source_url":"https://www.cryptotimes.io/2026/06/05/zachxbt-traces-rain-teams-wallets-to-networks-behind-dop-and-tomi/"},{"date":"2025-11","event":"Enlivex Therapeutics (Nasdaq: ENLV) announces a $212 million private placement to fund a RAIN token treasury strategy; RAIN rises more than 120% and former Italian Prime Minister Matteo Renzi is named to the board.","source":"CoinDesk / GlobeNewswire","source_url":"https://www.coindesk.com/business/2025/11/24/microcap-biotech-firm-raises-usd212m-for-prediction-market-token-treasury-strategy"},{"date":"2025-12","event":"Wallet 0xbac19cb634c34baf7670263ccc74806a2d004fb0 allegedly receives funds from address 0xf205, which had previously received funds from a DOP multisig, per ZachXBT's analysis.","source":"Crypto Times","source_url":"https://www.cryptotimes.io/2026/06/05/zachxbt-traces-rain-teams-wallets-to-networks-behind-dop-and-tomi/"},{"date":"2026-02","event":"RAIN token listed on Kraken.","source":"Kraken Blog","source_url":"https://blog.kraken.com/product/asset-listings/rain-is-available-for-trading"},{"date":"2026-04","event":"RAIN token listed on HTX (formerly Huobi), per an Enlivex treasury portfolio update.","source":"GlobeNewswire","source_url":"https://www.globenewswire.com/news-release/2026/04/30/3284843/0/en/enlivex-treasury-portfolio-update-listing-of-the-rain-token-on-htx-a-leading-cryptocurrency-exchange.html"},{"date":"2026-05","event":"Enlivex announces the Rain Foundation's $100 million liquidity commitment ($50M USDT + $50M RAIN), saying it lifts Rain Protocol into the global top three prediction markets by TVL.","source":"The Globe and Mail","source_url":"https://www.theglobeandmail.com/investing/markets/markets-news/Tipranks/2175802/enlivex-highlights-100m-liquidity-boost-for-rain-as-treasury-backed-prediction-market-enters-global-top-three/"},{"date":"2026-05","event":"Enlivex reports RAIN holdings valued at approximately $1.16 billion; Rain Foundation appoints industry leaders to its advisory board.","source":"GlobeNewswire","source_url":"https://www.globenewswire.com/news-release/2026/05/28/3302780/0/en/enlivex-treasury-portfolio-update-rain-holdings-valued-at-approximately-1-16-billion-rain-foundation-appoints-industry-leaders-to-advisory-board.html"},{"date":"2026-05","event":"ZachXBT publishes initial warning flagging RAIN as a possible insider pump, citing 99.97% supply concentration in 81 wallets and an FDV near $9 billion with minimal protocol fundamentals.","source":"NullTX","source_url":"https://nulltx.com/zachxbt-flags-rain-token-as-possible-insider-pump-after-9-billion-fdv-surge-with-99-97-of-supply-held-by-81-wallets/"},{"date":"2026-06","event":"Kraken announces a scheduled delisting review cycle for RAIN as part of its regular asset review process.","source":"CryptoAdventure","source_url":"https://cryptoadventure.com/zachxbt-downgrades-kraken-to-b-tier-over-token-listings-and-breach-response/"},{"date":"2026-06","event":"ZachXBT publishes an expanded on-chain investigation tracing alleged RAIN team wallets to the DOP and TOMI networks via the Gems.vip hot wallet, citing specific transaction timestamps and addresses.","source":"CryptoTimes","source_url":"https://www.cryptotimes.io/2026/06/05/zachxbt-traces-rain-teams-wallets-to-networks-behind-dop-and-tomi/"},{"date":"2026-06","event":"ZachXBT urges followers to 'avoid Rain at all costs' and raises a personal bounty to $100,000 for insider documentation of alleged CEX market manipulation involving RAIN.","source":"NullTX / CryptoPotato","source_url":"https://nulltx.com/zachxbt-warns-traders-to-avoid-8-8b-market-cap-rain-protocol-raises-bounty-to-100000/"},{"date":"2026-06","event":"ZachXBT downgrades Kraken from S-tier to B-tier, citing its listing of RAIN alongside M, RIVER and RAVE.","source":"CryptoAdventure","source_url":"https://cryptoadventure.com/zachxbt-downgrades-kraken-to-b-tier-over-token-listings-and-breach-response/"},{"date":"2026-06","event":"Enlivex reports holding 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