Rain Protocol (RAIN Token)
Summary
Rain Protocol is a decentralized prediction markets protocol built on Arbitrum, with its native RAIN token reaching an approximately $8.8 billion fully diluted valuation (FDV) by mid-2026. On-chain investigator ZachXBT alleged in June 2026 that 99.97% of RAIN's total supply is controlled by 81 wallets and that deployer wallet funding trails link the Rain team to the Data Ownership Protocol (DOP) and TOMI networks, projects associated with Israeli entrepreneur Moshe Hogeg, who faces a recommended $290 million fraud indictment in Israel. Rain Protocol has not issued a public response to these allegations, and no regulatory action has been taken against Rain Protocol directly.
Connected Entities
1 entities · 10 linked investigations- + 2 more
Timeline(14 events)
2017-01-01
Moshe Hogeg allegedly raises approximately $290 million across four cryptocurrency projects under alleged false pretenses. Projects later identified in connection with him include Sirin Labs (~$158M ICO), Stox (~$34M ICO), and Leadcoin (~$58M ICO).
Times of Israel / Bitcoin News2021-11-18
Moshe Hogeg arrested by Israeli police along with seven others on charges including fraud, money laundering, and sexual offenses.
CoinDesk2021-12-01
Moshe Hogeg released to house arrest on approximately $22 million bail. He denies all allegations.
Crypto Times2023-08-23
Israeli National Fraud Investigations Unit (NAU) recommends indictment of Moshe Hogeg for $290 million cryptocurrency fraud. Cases referred to prosecutors. Hogeg continues to deny charges.
Bloomberg / Times of Israel2025-10-14
Alleged RAIN deployer address (0xa35e61cb836ae15f2d7d400efb49bda7222b98bc) sends dust to address 0xbac1; alleged TOMI multisig sends dust to the same address 36 seconds earlier, per ZachXBT's on-chain analysis.
Crypto Times2025-11-24
Nasdaq-listed Enlivex Therapeutics (ENLV) announces $212 million PIPE offering to establish a Rain token digital asset treasury, described as the first prediction-markets DAT. RAIN surges over 120%. Former Italian PM Matteo Renzi joins Enlivex board.
CoinDesk / GlobeNewswire2025-12-01
Wallet 0xbac19cb634c34baf7670263ccc74806a2d004fb0 allegedly receives funds from address 0xf205, which itself had previously received funds from a DOP multisig, per ZachXBT's analysis.
Crypto Times2026-04-30
RAIN token listed on HTX (formerly Huobi) cryptocurrency exchange, per Enlivex treasury portfolio update.
GlobeNewswire2026-05-27
Enlivex announces Rain Foundation's $100 million liquidity commitment ($50M USDT + $50M RAIN) elevates Rain Protocol to third place globally among prediction markets by TVL.
Globe and Mail2026-05-31
ZachXBT publishes initial investigation flagging Rain Protocol as a possible insider pump, citing 99.97% supply concentration in 81 wallets and FDV near $9 billion with minimal protocol fundamentals.
NullTX2026-06-05
ZachXBT publishes expanded on-chain investigation tracing alleged RAIN team wallets to DOP and TOMI networks via Gems.vip hot wallet, citing specific transaction timestamps and address connections.
Crypto Times2026-06-05
ZachXBT urges followers to 'avoid Rain at all costs,' raises personal bounty to $100,000 for insider documentation (business contracts, chat logs) related to alleged CEX market manipulation involving RAIN.
NullTX / CryptoPotato2026-06-05
ZachXBT downgrades Kraken exchange from S-tier to B-tier, citing listing of low-quality tokens including RAIN, alongside M, RIVER, and RAVE.
Crypto Adventure2026-06-20
Enlivex reports RAIN token holdings of approximately 79.57 billion tokens valued at approximately $1.14 billion.
Quiver QuantitativeDecision Log
- hash: F3BLxt7VYuGcDAwxA7Wd9usWK6BpKS8y32V8W4A96T8h
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 6/26/2026, 11:05:10 PM
last updated: 6/26/2026, 11:05:19 PM
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