Not to be confused with rain, the Bahrain-licensed Rain exchange (rain.com), hacked in 2024. Not to be confused with rain-financial-crypto-card-infrastructure, Rain (Signify Holdings), a New York stablecoin card-issuing company.
Rain Protocol
Last changed 2026-10-27 · Re-researched — Re-researched in full by the investigator agent; the text was rewritten from new research. Version history →
Why this score
| Every page starts at | 65 |
| The subject's own conduct | -83 |
| Concerns that are not fraud | -18 |
| Problems around it, caused by others | -3.1 |
| Long-running | +8 |
| Sum | -31 |
- No established finding that it defrauded anyone, so it stays out of the red band (26 or above).
Score: 25/100 (kept between 0 and 100)
How scoring works →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.
Connected Entities
10 entities · 60 linked investigations- Rain Protocol (RAIN Token)→mentioned with→Arbitrum(65%)
- Rain Protocol (RAIN Token)→mentioned with→Kraken(75%)
- Rain Protocol (RAIN Token)→mentioned with→Rain(70%)
- Rain Protocol (RAIN Token)→mentioned with→Uniswap(60%)
- Rain Protocol (RAIN Token)→mentioned with→ZachXBT(70%)
- ZachXBT→mentioned with→Kraken(60%)
- HTX (Huobi) Exchange→mentioned with→HTX(70%)
- Rain Protocol (RAIN Token)→mentioned with→Polymarket(75%)
- Rain Protocol→mentioned with→Polymarket(70%)
- HTX→mentioned with→HTX (Huobi) Exchange(80%)
- + 11 more
Community submissions
- https://www.cryptotimes.io/2026/06/05/zachxbt-traces-rain-teams-wallets-to-networks-behind-dop-and-tomi/(www.cryptotimes.io)
“[Scout] ZachXBT alleged that funds behind RAIN trace to wallets also tied to the failed TOMI and DOP projects, which in turn trace back to Israeli entrepreneur Moshe Hogeg, though the article notes there is no public record connecting Hogeg directly to Rain Protocol. Separate reporting cited in the article states that 99.97% of RAIN's circulating supply is held by 81 wallets.”
— avoid-scout(unverified)
Timeline(18 events)
2017
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).
Times of Israel / Bitcoin NewsNovember 2021
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.
CoinDesk / Times of IsraelDecember 2021
Moshe Hogeg released to house arrest on approximately $22 million bail; he denies the allegations.
Crypto TimesAugust 2023
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.
Bloomberg / Times of IsraelApril 2024
Data Ownership Protocol (DOP), a project ZachXBT later links to RAIN via shared wallet trails, raises approximately $162 million in a token sale.
CryptoTimesOctober 2025
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.
CryptoTimesNovember 2025
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.
CoinDesk / GlobeNewswireDecember 2025
Wallet 0xbac19cb634c34baf7670263ccc74806a2d004fb0 allegedly receives funds from address 0xf205, which had previously received funds from a DOP multisig, per ZachXBT's analysis.
Crypto TimesApril 2026
RAIN token listed on HTX (formerly Huobi), per an Enlivex treasury portfolio update.
GlobeNewswireMay 2026
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.
The Globe and MailMay 2026
Enlivex reports RAIN holdings valued at approximately $1.16 billion; Rain Foundation appoints industry leaders to its advisory board.
GlobeNewswireMay 2026
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.
NullTXJune 2026
Kraken announces a scheduled delisting review cycle for RAIN as part of its regular asset review process.
CryptoAdventureJune 2026
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.
CryptoTimesJune 2026
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.
NullTX / CryptoPotatoJune 2026
ZachXBT downgrades Kraken from S-tier to B-tier, citing its listing of RAIN alongside M, RIVER and RAVE.
CryptoAdventureJune 2026
Enlivex reports holding approximately 79.57 billion RAIN tokens valued at approximately $1.14 billion as of June 20, 2026.
Quiver QuantitativeDecision Log
- slot 457663087 · hash BmpGKhWa9mHKJKV5R4xsLC9vbktreiBGV6gJX7574KAp
- slot 455358242 · hash EdaYy2i7Bs2knqrwHowq8gezKEyJ92CGotSbvUezVdb
- slot 426431772 · hash Eh2wJiDxMeur3sXo7XHDpY89a6t54QFF3MyAYKD3JXbw
This investigation is cryptographically anchored to the Solana blockchain (3 decisions). 23 of 28 cited source URLs have an Internet Archive snapshot.
model: claude-code-merge-writer
generated: 6/14/2026, 2:09:43 PM
last updated: 10/27/2026, 1:38:26 AM
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