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{"actor":"system:backfill","investigation_id":"e4c223c8-3357-498b-b233-e74b45516dd4","kind":"publish","page_slug":"bitget-exchange","published_at":"2026-06-14T14:48:04.603Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Bitget Exchange","sections":[{"content":"Bitget was founded in 2018 by a team with backgrounds in traditional finance. The exchange is registered in the Seychelles and operates globally, offering spot, derivatives, and copy-trading products. Gracy Chen, a former TV host and managing director who joined the exchange in June 2022, was appointed CEO and became a prominent public spokesperson. She holds an MBA from MIT and is described as the only female CEO among the top ten centralized crypto exchanges. Shawn Liu is identified in public records and by ZachXBT as the exchange's founder and chairman, though Liu does not maintain a public-facing role. Bitget reported $8.17 trillion in annual derivatives trading volume for 2025 and claims to serve over 100 million users. The exchange operates a self-managed protection fund exceeding $300 million.","heading":"Company Background","severity":"low","sources":[{"credibility":2,"name":"What is Bitget? - The Block","type":"news_article","url":"https://www.theblock.co/learn/308617/what-is-bitget"},{"credibility":2,"name":"Bitget About Us - Official Page","type":"official","url":"https://www.bitget.com/aboutus"},{"credibility":2,"name":"From TV Host to Crypto Exchange CEO: Gracy Chen at the Helm of Bitget","type":"news_article","url":"https://www.financemagnates.com/executives/moves/from-tv-host-to-crypto-exchange-ceo-gracy-chen-at-the-helm-of-bitget/"},{"credibility":2,"name":"Bitget CEO New Year Letter 2026","type":"official","url":"https://www.bitget.com/blog/articles/bitget-ceo-new-year-letter-2026"}]},{"content":"In May 2026, on-chain investigator ZachXBT publicly alleged that Bitget is part of a 'Chinese CEX cartel'—a network of Asian-based centralized exchanges he claims collude to profit from insider token manipulation at retail users' expense. ZachXBT specifically named Bitget founder and chairman Shawn Liu as the alleged operative enabling these schemes, describing him as 'the Bitget big boss who allows these scams to operate behind the scenes while Gracy Chen is only the face of it.' ZachXBT alleged the exchange allows what he described as 'sketchy active market makers to defraud retail users with supply control manipulation schemes,' naming four tokens—RAVE, RIVER, SIREN, and LAB—as documented cases. The investigator stated he planned to 'increase public attacks against Bitget' and offered a $10,000 personal bounty for insider information including market maker contracts and chat logs. Neither Bitget, Shawn Liu, nor Gracy Chen had publicly responded to these allegations as of June 2026. The allegations are sourced primarily from ZachXBT's on-chain analysis and have not been confirmed by any regulatory body.","heading":"Alleged Role in 'Chinese CEX Cartel' and Insider Token Manipulation","severity":"critical","sources":[{"credibility":2,"name":"ZachXBT Names Bitget's Real Boss, Warns Escalation Against Chinese CEX 'Cartel' Is Coming","type":"news_article","url":"https://news.bitcoin.com/zachxbt-bitget-shawn-liu-cex-cartel-2026/"},{"credibility":2,"name":"ZachXBT Calls Bitget Part Of 'Chinese CEX Cartel' After 100M Lab Tokens Exit","type":"news_article","url":"https://www.cryptotimes.io/2026/05/12/zachxbt-calls-bitget-part-of-chinese-cex-cartel-after-100m-lab-tokens-exit/"},{"credibility":2,"name":"ZachXBT Names RAVE, RIVER, SIREN, and LAB as Victims of Bitget-Enabled Market Maker Fraud","type":"news_article","url":"https://news.bitcoin.com/zachxbt-bitget-supply-control-manipulation-rave-river-siren-lab-2026/"},{"credibility":2,"name":"ZachXBT Drops New Allegations on Bitget, Pointing to Shawn Liu as the True Decision-Maker","type":"news_article","url":"https://crypto-economy.com/zachxbt-drops-new-allegations-on-bitget-pointing-to-shawn-liu-as-the-true-decision-maker/"},{"credibility":3,"name":"ZachXBT Targets Bitget's Secret Leadership and the 'CEX Cartel' - TechStory","type":"news_article","url":"https://techstory.in/unmasking-the-shadow-play-zachxbt-targets-bitgets-secret-leadership-and-the-cex-cartel/"},{"credibility":3,"name":"ZachXBT Accuses Bitget of Facilitating LAB Token Manipulation - AInvest","type":"news_article","url":"https://www.ainvest.com/news/zachxbt-accuses-bitget-facilitating-lab-token-manipulation-2605/"},{"credibility":2,"name":"ZachXBT slams Bitget execs over suspicious $480M withdrawals - Protos","type":"news_article","url":"https://protos.com/zachxbt-slams-bitget-execs-over-suspicious-480m-withdrawals/"}]},{"content":"The most specific documented incident involves the LAB token. On May 11–12, 2026, on-chain analytics service Lookonchain flagged that 10 freshly created wallets withdrew 100 million LAB tokens—worth approximately $480 million and representing approximately 32.26% of LAB's circulating supply of 309.95 million (from a 1 billion total)—from Bitget's hot wallet within a 12-hour window. Each wallet received between 8.6 million and 10.8 million LAB tokens, valued at $41.5 million to $52.92 million per wallet. Separately, analyst SpecterAnalyst alleged that wallets linked to the LAB development team moved approximately 40 million LAB (~$13.6 million) to Bitget on April 8, and approximately 96 million LAB (~$63 million) around April 24, shortly before the token experienced a roughly 350% price surge over 72 hours beginning May 1, 2026. The token subsequently crashed approximately 84%. LAB's liquidity-to-market-cap ratio was reported at approximately 0.35%, with roughly $4.75 million in on-chain liquidity against a $1.57 billion market cap at the time of the allegations—a structural condition that analysts noted allows insiders with large holdings to move prices with relatively small capital. ZachXBT identified the alleged architect of the LAB project as Vova Sadkov (online alias 'vsadkovv') and posted a $10,000 bounty for evidence connecting Sadkov to illegal market activity. LAB's price previously experienced a 500%+ pump followed by an 84% crash earlier in May. None of these on-chain allegations have been confirmed by regulatory authorities. The LAB team did not publicly respond.","heading":"LAB Token: $480M Withdrawal and Alleged Pump-and-Dump","severity":"critical","sources":[{"credibility":2,"name":"10 Fresh Wallets Pull 100 Million LAB Tokens Worth $480M From Bitget","type":"on_chain","url":"https://news.bitcoin.com/lab-token-bitget-withdrawal-manipulation-2026/"},{"credibility":2,"name":"ZachXBT Calls Bitget Part Of 'Chinese CEX Cartel' After 100M Lab Tokens Exit","type":"news_article","url":"https://www.cryptotimes.io/2026/05/12/zachxbt-calls-bitget-part-of-chinese-cex-cartel-after-100m-lab-tokens-exit/"},{"credibility":2,"name":"Bitget Faces ZachXBT Firestorm After $480 Million LAB Wallet Withdrawals","type":"news_article","url":"https://bitcoinist.com/bitget-zachxbt-firestorm-480-million-lab/"},{"credibility":2,"name":"ZachXBT Says 95% of LAB Token Is Insider-Controlled as Investigation Exposes Multi-Front Retail Rug","type":"news_article","url":"https://news.bitcoin.com/zachxbt-lab-token-insider-control-bitget-investigation-2026/"},{"credibility":2,"name":"LAB Coin Might Crash to $2.54 as 32% of Supply Hits New Wallets - BanklessTimes","type":"news_article","url":"https://www.banklesstimes.com/articles/2026/05/12/lab-coin-might-crash-to-2-54-as-32-of-supply-hits-new-wallets/"},{"credibility":2,"name":"ZachXBT Alleges 95% LAB Token Are Controlled by Insiders - CryptoTimes","type":"news_article","url":"https://www.cryptotimes.io/2026/05/14/zachxbt-alleges-95-lab-token-are-controlled-by-insiders/"}]},{"content":"In April 2026, the RAVE token associated with the RaveDAO entertainment project collapsed approximately 90% within 24 hours, from a peak near $27–$28 to approximately $1.15, erasing roughly $5.7–$6.6 billion in market capitalization. The token had surged more than 10,000% over approximately 9 to 11 days prior to the collapse. ZachXBT alleged that approximately 90% of RAVE's 1 billion token supply was held in three team-linked wallets, and that large token transfers to exchanges preceded the price surge. ZachXBT described a 'bait and liquidate' pattern in which visible transfers to exchanges suggested incoming sell pressure, drawing traders into short positions before tokens were withdrawn and prices surged higher, forcing shorts to cover at worsening levels. The rally triggered an alleged $44 million in liquidations. Bitget CEO Gracy Chen confirmed the exchange had opened an investigation into the trading activity; Binance co-CEO Richard Teng said his exchange was reviewing the matter. RaveDAO denied involvement in the price action but did not address specific on-chain claims. No findings from Bitget's investigation had been published as of May 2026, more than 20 days after Chen's initial statement.","heading":"RAVE Token Collapse and Exchange Investigation","severity":"high","sources":[{"credibility":1,"name":"RaveDAO's RAVE token collapses 90% in a day as exchange probes widen - CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2026/04/19/ravedao-s-rave-token-collapses-90-in-a-day-as-exchange-probes-widen"},{"credibility":1,"name":"Binance and Bitget to probe RAVE's 4,500% token surge as claims of insider-orchestrated rally grow - CoinDesk","type":"news_article","url":"https://www.coindesk.com/business/2026/04/18/binance-and-biget-to-probe-rave-s-4-500-token-surge-as-claims-of-insider-orchestrated-rally-grow"},{"credibility":2,"name":"RAVE Token Plummets 98% After 10,000% Surge, Sparking Major Exchange Probes into Alleged Insider Manipulation","type":"news_article","url":"https://finance.biggo.com/news/QU6jqZ0ByH9TLH69tGJR"},{"credibility":2,"name":"From $26 to Under $1: RAVE's Historic Crash Draws Investigation Calls - CryptoPotato","type":"news_article","url":"https://cryptopotato.com/from-26-to-under-1-raves-historic-crash-draws-investigation-calls/"},{"credibility":2,"name":"ZachXBT Warns on SIREN, MemeCore, River, Pipping After RaveDAO Collapse - BanklessTimes","type":"news_article","url":"https://www.banklesstimes.com/articles/2026/04/21/zachxbt-warns-on-siren-memecore-river-pipping-after-ravedao-collapse/"}]},{"content":"ZachXBT has alleged that RIVER and SIREN tokens share characteristics with the RAVE and LAB manipulation patterns he described. The RIVER token surged more than 500% in late January 2026, reaching a price above $85, before ZachXBT flagged it in April as exhibiting supply-concentration indicators consistent with alleged market maker fraud on Bitget and other exchanges. SIREN was flagged in April 2026 with a market capitalization exceeding $510 million against daily trading volume of approximately $11 million—a low volume-to-market-cap ratio that ZachXBT and other analysts characterized as a potential manipulation indicator. ZachXBT described an 'unknown MM operating via Chinese exchanges' running a consistent playbook across RIVER, RAVE, SIREN, MYX, SKYAI, and LAB, with Bitget identified as a common venue. These allegations are based on on-chain analytics and public statements by ZachXBT and have not been independently verified by regulatory authorities.","heading":"RIVER and SIREN Token Allegations","severity":"high","sources":[{"credibility":2,"name":"ZachXBT Names RAVE, RIVER, SIREN, and LAB as Victims of Bitget-Enabled Market Maker Fraud","type":"news_article","url":"https://news.bitcoin.com/zachxbt-bitget-supply-control-manipulation-rave-river-siren-lab-2026/"},{"credibility":2,"name":"ZachXBT Puts $10K Bounty on RIVER and RAVE Token Manipulation - BeInCrypto","type":"news_article","url":"https://beincrypto.com/zachxbt-bounty-hong-kong-market-manipulation/"},{"credibility":2,"name":"ZachXBT Warns on SIREN, MemeCore, River, Pipping After RaveDAO Collapse - BanklessTimes","type":"news_article","url":"https://www.banklesstimes.com/articles/2026/04/21/zachxbt-warns-on-siren-memecore-river-pipping-after-ravedao-collapse/"}]},{"content":"In April 2026, Bitget disclosed a separate incident involving the VOXEL token on its futures platform. A cluster of eight accounts allegedly exploited a flaw in Bitget's internal market-making bot logic, buying VOXEL futures at artificially depressed prices and selling into inflated bids, reportedly generating over $20 million in profits that the exchange estimated at approximately $100 million in losses to its treasury. Traders observed the asset's price spiking and crashing every few seconds; some users reportedly converted holdings under $100 into six-figure positions. Bitget's Head of Asia Xie Jiayin announced the exchange would pursue legal action against the eight accounts and issue lawyer's letters. Bitget stated all recovered funds would be returned to users via airdrop. The incident raised questions about the robustness of Bitget's internal risk controls and market-making infrastructure. The VOXEL incident was treated by Bitget as an external exploit rather than internal misconduct, and it is separate from the manipulation allegations raised by ZachXBT.","heading":"VOXEL Futures Exploit and Internal Controls Failure","severity":"high","sources":[{"credibility":2,"name":"Bitget Targets Traders With Legal Action Over VOXEL Price Manipulation - 99Bitcoins","type":"news_article","url":"https://99bitcoins.com/news/bitget-targets-traders-with-legal-action-over-voxel-price-manipulation/"},{"credibility":2,"name":"Bitget Hit by $100M VOXEL Exploit: Traders Flip Pennies into Millions Before Rollback - Blocmates","type":"news_article","url":"https://www.blocmates.com/news-posts/bitget-hit-by-100m-voxel-exploit-traders-flip-pennies-into-millions-before-rollback"},{"credibility":2,"name":"Bitget's VOXEL Meltdown - Rekt News","type":"news_article","url":"https://rekt.news/bitgets-voxel-meltdown"},{"credibility":2,"name":"Bitget Detects Abnormal VOXEL Activity - Official Bitget Announcement","type":"official","url":"https://www.bitget.com/news/detail/12560604713239"}]},{"content":"In December 2021, the Monetary Authority of Singapore (MAS) suspended Bitget's exemption from holding a full license to issue digital tokens, following a dispute involving the 'Army Coin' (also called ARMY token). In October 2021, Bitget listed Army Coin, which used unauthorized imagery of the K-pop band BTS and falsely claimed in listing materials that the coin was created for the benefit of BTS members. BTS's management company Hybe Corporation threatened legal action over the unauthorized association. Bitget initially refused to delist the token; Army Coin was ultimately delisted on December 3, 2021. Bloomberg and multiple crypto news outlets reported MAS's action. Bitget stated at the time that it remained licensed in other jurisdictions including Australia, the United States, and Canada. The exchange's Singapore registration status was not restored under its original exemption framework.","heading":"Singapore Regulatory Action (2021)","severity":"medium","sources":[{"credibility":2,"name":"Singapore suspends exchange Bitget's license over K-pop coin promotion - CoinTelegraph","type":"regulatory","url":"https://cointelegraph.com/news/singapore-suspends-bitget-exchange-license-over-k-pop-coin-promotion"},{"credibility":2,"name":"Bitget's suspension by Singapore over BTS dispute welcomed by cryptocurrency experts - The National","type":"news_article","url":"https://www.thenationalnews.com/business/money/2021/12/09/bitgets-suspension-by-singapore-over-bts-dispute-welcomed-by-cryptocurrency-experts/"},{"credibility":1,"name":"Singapore No Longer Allows Bitget to Issue Crypto Tokens Pending a License - Bloomberg","type":"regulatory","url":"https://www.bloomberg.com/news/articles/2021-12-05/singapore-suspends-crypto-exchange-in-dispute-with-bts-ft-says"},{"credibility":2,"name":"Bitget suspended in Singapore for refusing to remove BTS-themed coin - Protos","type":"news_article","url":"https://protos.com/bitget-suspended-in-singapore-for-refusing-to-remove-bts-themed-coin/"}]},{"content":"As of June 2026, no securities regulator—including the U.S. SEC, CFTC, or any comparable authority—had filed enforcement action against Bitget or named Shawn Liu in connection with the market manipulation allegations raised by ZachXBT. Bitget is registered in the Seychelles, a jurisdiction with limited crypto-specific enforcement frameworks. The exchange has claimed registration as a Digital Currency Exchange Provider with Australia's AUSTRAC. The gap between the scale of the alleged conduct—hundreds of millions of dollars in token movements—and the absence of regulatory action reflects what critics have described as enforcement limitations for offshore exchanges operating in loosely regulated jurisdictions. ZachXBT's characterization of the situation as a 'cartel' operating without accountability echoes this structural observation. No formal dossier from ZachXBT had been submitted to regulators as of the reporting dates, and no regulatory body had publicly acknowledged opening an investigation into Bitget related to these specific allegations.","heading":"Regulatory Status and Enforcement Gap","severity":"medium","sources":[{"credibility":2,"name":"ZachXBT Names Bitget's Real Boss, Warns Escalation Against Chinese CEX 'Cartel' Is Coming","type":"news_article","url":"https://news.bitcoin.com/zachxbt-bitget-shawn-liu-cex-cartel-2026/"},{"credibility":2,"name":"ZachXBT Accuses Bitget Founder of Running Exchange Behind the Scenes - FinanceFeeds","type":"news_article","url":"https://financefeeds.com/zachxbt-accuses-bitget-founder-of-running-exchange-behind-the-scenes/"}]}],"sources_used":[{"credibility":2,"name":"ZachXBT Calls Bitget Part Of 'Chinese CEX Cartel' After 100M Lab Tokens Exit - CryptoTimes","type":"news_article","url":"https://www.cryptotimes.io/2026/05/12/zachxbt-calls-bitget-part-of-chinese-cex-cartel-after-100m-lab-tokens-exit/"},{"credibility":2,"name":"ZachXBT Names Bitget's Real Boss, Warns Escalation Against Chinese CEX 'Cartel' Is Coming - Bitcoin.com News","type":"news_article","url":"https://news.bitcoin.com/zachxbt-bitget-shawn-liu-cex-cartel-2026/"},{"credibility":2,"name":"ZachXBT Names RAVE, RIVER, SIREN, and LAB as Victims of Bitget-Enabled Market Maker Fraud - Bitcoin.com News","type":"news_article","url":"https://news.bitcoin.com/zachxbt-bitget-supply-control-manipulation-rave-river-siren-lab-2026/"},{"credibility":3,"name":"ZachXBT Accuses Bitget of Facilitating LAB Token Manipulation - AInvest","type":"news_article","url":"https://www.ainvest.com/news/zachxbt-accuses-bitget-facilitating-lab-token-manipulation-2605/"},{"credibility":2,"name":"10 Fresh Wallets Pull 100 Million LAB Tokens Worth $480M From Bitget - Bitcoin.com News","type":"on_chain","url":"https://news.bitcoin.com/lab-token-bitget-withdrawal-manipulation-2026/"},{"credibility":2,"name":"ZachXBT Says 95% of LAB Token Is Insider-Controlled - Bitcoin.com News","type":"news_article","url":"https://news.bitcoin.com/zachxbt-lab-token-insider-control-bitget-investigation-2026/"},{"credibility":2,"name":"Bitget Faces ZachXBT Firestorm After $480 Million LAB Wallet Withdrawals - Bitcoinist","type":"news_article","url":"https://bitcoinist.com/bitget-zachxbt-firestorm-480-million-lab/"},{"credibility":2,"name":"ZachXBT Alleges 95% LAB Token Are Controlled by Insiders - CryptoTimes","type":"news_article","url":"https://www.cryptotimes.io/2026/05/14/zachxbt-alleges-95-lab-token-are-controlled-by-insiders/"},{"credibility":1,"name":"RaveDAO's RAVE token collapses 90% in a day as exchange probes widen - CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2026/04/19/ravedao-s-rave-token-collapses-90-in-a-day-as-exchange-probes-widen"},{"credibility":1,"name":"Binance and Bitget to probe RAVE's 4,500% token surge - CoinDesk","type":"news_article","url":"https://www.coindesk.com/business/2026/04/18/binance-and-biget-to-probe-rave-s-4-500-token-surge-as-claims-of-insider-orchestrated-rally-grow"},{"credibility":2,"name":"ZachXBT Warns on SIREN, MemeCore, River, Pipping After RaveDAO Collapse - BanklessTimes","type":"news_article","url":"https://www.banklesstimes.com/articles/2026/04/21/zachxbt-warns-on-siren-memecore-river-pipping-after-ravedao-collapse/"},{"credibility":2,"name":"ZachXBT Puts $10K Bounty on RIVER and RAVE Token Manipulation - BeInCrypto","type":"news_article","url":"https://beincrypto.com/zachxbt-bounty-hong-kong-market-manipulation/"},{"credibility":2,"name":"Bitget Hit by $100M VOXEL Exploit - Blocmates","type":"news_article","url":"https://www.blocmates.com/news-posts/bitget-hit-by-100m-voxel-exploit-traders-flip-pennies-into-millions-before-rollback"},{"credibility":2,"name":"Bitget's VOXEL Meltdown - Rekt News","type":"news_article","url":"https://rekt.news/bitgets-voxel-meltdown"},{"credibility":2,"name":"Bitget Targets Traders With Legal Action Over VOXEL Price Manipulation - 99Bitcoins","type":"news_article","url":"https://99bitcoins.com/news/bitget-targets-traders-with-legal-action-over-voxel-price-manipulation/"},{"credibility":2,"name":"Bitget Detects Abnormal VOXEL Activity - Official Bitget","type":"official","url":"https://www.bitget.com/news/detail/12560604713239"},{"credibility":2,"name":"Singapore suspends exchange Bitget's license over K-pop coin promotion - CoinTelegraph","type":"regulatory","url":"https://cointelegraph.com/news/singapore-suspends-bitget-exchange-license-over-k-pop-coin-promotion"},{"credibility":1,"name":"Singapore No Longer Allows Bitget to Issue Crypto Tokens Pending a License - Bloomberg","type":"regulatory","url":"https://www.bloomberg.com/news/articles/2021-12-05/singapore-suspends-crypto-exchange-in-dispute-with-bts-ft-says"},{"credibility":2,"name":"Bitget's suspension by Singapore over BTS dispute welcomed by experts - The National","type":"news_article","url":"https://www.thenationalnews.com/business/money/2021/12/09/bitgets-suspension-by-singapore-over-bts-dispute-welcomed-by-cryptocurrency-experts/"},{"credibility":2,"name":"ZachXBT Drops New Allegations on Bitget, Pointing to Shawn Liu as the True Decision-Maker - Crypto Economy","type":"news_article","url":"https://crypto-economy.com/zachxbt-drops-new-allegations-on-bitget-pointing-to-shawn-liu-as-the-true-decision-maker/"},{"credibility":2,"name":"ZachXBT slams Bitget execs over suspicious $480M withdrawals - Protos","type":"news_article","url":"https://protos.com/zachxbt-slams-bitget-execs-over-suspicious-480m-withdrawals/"},{"credibility":2,"name":"ZachXBT Accuses Bitget Founder of Running Exchange Behind the Scenes - FinanceFeeds","type":"news_article","url":"https://financefeeds.com/zachxbt-accuses-bitget-founder-of-running-exchange-behind-the-scenes/"},{"credibility":2,"name":"LAB Coin Might Crash to $2.54 as 32% of Supply Hits New Wallets - BanklessTimes","type":"news_article","url":"https://www.banklesstimes.com/articles/2026/05/12/lab-coin-might-crash-to-2-54-as-32-of-supply-hits-new-wallets/"},{"credibility":2,"name":"What is Bitget? - The Block","type":"news_article","url":"https://www.theblock.co/learn/308617/what-is-bitget"},{"credibility":2,"name":"From TV Host to Crypto Exchange CEO: Gracy Chen at the Helm of Bitget - Finance Magnates","type":"news_article","url":"https://www.financemagnates.com/executives/moves/from-tv-host-to-crypto-exchange-ceo-gracy-chen-at-the-helm-of-bitget/"}],"summary":"Bitget is a centralized cryptocurrency exchange founded in 2018 and registered in the Seychelles, serving a self-reported user base in the tens of millions and recording $8.17 trillion in derivatives trading volume in 2025. Since April 2026, on-chain investigator ZachXBT has publicly alleged that Bitget functions as a node in a 'Chinese CEX cartel,' enabling a pattern of insider token supply manipulation across at least four named tokens (RAVE, RIVER, SIREN, and LAB) while naming Bitget's non-public-facing founder Shawn Liu as the alleged operative behind the schemes. No regulatory enforcement action had been filed as of June 2026, and neither Bitget nor Liu had publicly responded to the allegations.","timeline":[{"date":"2018-01-01","event":"Bitget founded in Singapore, registered in Seychelles, with Shawn Liu as founder and chairman.","source":"The Block / Bitget official","source_url":"https://www.theblock.co/learn/308617/what-is-bitget"},{"date":"2021-10-01","event":"Bitget lists 'Army Coin,' which uses unauthorized imagery of K-pop band BTS and contains false claims about BTS association.","source":"CoinTelegraph","source_url":"https://cointelegraph.com/news/singapore-suspends-bitget-exchange-license-over-k-pop-coin-promotion"},{"date":"2021-12-03","event":"Army Coin delisted from Bitget following threats of legal action from BTS management company Hybe Corporation.","source":"Protos","source_url":"https://protos.com/bitget-suspended-in-singapore-for-refusing-to-remove-bts-themed-coin/"},{"date":"2021-12-05","event":"Monetary Authority of Singapore suspends Bitget's exemption to issue digital tokens to Singapore investors.","source":"Bloomberg","source_url":"https://www.bloomberg.com/news/articles/2021-12-05/singapore-suspends-crypto-exchange-in-dispute-with-bts-ft-says"},{"date":"2022-06-01","event":"Gracy Chen joins Bitget as Managing Director, later appointed CEO.","source":"Finance Magnates","source_url":"https://www.financemagnates.com/executives/moves/from-tv-host-to-crypto-exchange-ceo-gracy-chen-at-the-helm-of-bitget/"},{"date":"2026-04-08","event":"Alleged: Wallets linked to the LAB development team move approximately 40 million LAB (~$13.6M) into Bitget, per SpecterAnalyst on-chain analysis.","source":"Bitcoinist / CryptoTimes","source_url":"https://bitcoinist.com/bitget-zachxbt-firestorm-480-million-lab/"},{"date":"2026-04-18","event":"RAVE token surges more than 10,000% over nine to eleven days; ZachXBT alleges 90% of supply held by three team-linked wallets and describes a 'bait and liquidate' manipulation pattern.","source":"CoinDesk","source_url":"https://www.coindesk.com/business/2026/04/18/binance-and-biget-to-probe-rave-s-4-500-token-surge-as-claims-of-insider-orchestrated-rally-grow"},{"date":"2026-04-19","event":"RAVE token collapses approximately 90% in 24 hours, erasing roughly $5.7 billion in market cap. Bitget CEO Gracy Chen and Binance open investigations.","source":"CoinDesk","source_url":"https://www.coindesk.com/markets/2026/04/19/ravedao-s-rave-token-collapses-90-in-a-day-as-exchange-probes-widen"},{"date":"2026-04-20","event":"VOXEL futures exploit at Bitget: eight accounts allegedly exploit a flaw in Bitget's market-making bot, generating over $20 million in profits against an estimated $100 million exchange loss.","source":"Blocmates / Rekt News","source_url":"https://www.blocmates.com/news-posts/bitget-hit-by-100m-voxel-exploit-traders-flip-pennies-into-millions-before-rollback"},{"date":"2026-04-21","event":"ZachXBT warns that SIREN, RIVER, MemeCore, and Pipping exhibit similar manipulation patterns to RAVE, offering $10,000 bounties for evidence.","source":"BanklessTimes","source_url":"https://www.banklesstimes.com/articles/2026/04/21/zachxbt-warns-on-siren-memecore-river-pipping-after-ravedao-collapse/"},{"date":"2026-04-24","event":"Alleged: Wallets linked to LAB team deposit approximately 96 million LAB (~$63M) to Bitget, per SpecterAnalyst, shortly before May 1 price surge.","source":"Bitcoinist","source_url":"https://bitcoinist.com/bitget-zachxbt-firestorm-480-million-lab/"},{"date":"2026-05-01","event":"LAB token surges approximately 350% over 72 hours; allegations emerge of insider coordination preceding the pump.","source":"CryptoTimes","source_url":"https://www.cryptotimes.io/2026/05/12/zachxbt-calls-bitget-part-of-chinese-cex-cartel-after-100m-lab-tokens-exit/"},{"date":"2026-05-11","event":"Lookonchain flags that 10 freshly created wallets begin withdrawing 100 million LAB tokens (~$480M, 32.26% of circulating supply) from Bitget's hot wallet over a 12-hour window.","source":"CryptoTimes / Bitcoinist","source_url":"https://www.cryptotimes.io/2026/05/12/zachxbt-calls-bitget-part-of-chinese-cex-cartel-after-100m-lab-tokens-exit/"},{"date":"2026-05-12","event":"ZachXBT publicly names Bitget as part of a 'Chinese CEX cartel,' identifies Shawn Liu as the exchange's behind-the-scenes operator, and names RAVE, RIVER, SIREN, and LAB as tokens affected by alleged Bitget-enabled market maker fraud.","source":"CryptoTimes / Bitcoin.com News / Protos","source_url":"https://www.cryptotimes.io/2026/05/12/zachxbt-calls-bitget-part-of-chinese-cex-cartel-after-100m-lab-tokens-exit/"},{"date":"2026-05-14","event":"ZachXBT alleges that 95% of LAB token supply is insider-controlled.","source":"CryptoTimes","source_url":"https://www.cryptotimes.io/2026/05/14/zachxbt-alleges-95-lab-token-are-controlled-by-insiders/"},{"date":"2026-06-10","event":"No regulatory enforcement action filed against Bitget or Shawn Liu in connection with ZachXBT's allegations as of this date. Neither party has publicly responded.","source":"AVOID.NET investigation context","source_url":"https://news.bitcoin.com/zachxbt-bitget-shawn-liu-cex-cartel-2026/"}]},"v":1}