On-chain investigator ZachXBT has announced a personal bounty of up to $10,000 for information leading to evidence of market manipulation by Hong Kong-based market maker Heisenberg Guru (HSBG) on centralized exchanges (CEXs). The move signals a new front in the ongoing battle against alleged trading abuses in the cryptocurrency spot market.
In a series of posts on social media, ZachXBT described certain market makers operating on platforms such as Bitget, Binance, and Gate.io as a 'cancer' on the industry. He specifically accused Heisenberg Guru of engaging in manipulative practices that harm retail traders and undermine market integrity, including wash trading, spoofing, and coordinated price suppression. The analyst stated he would fund the bounty from his personal resources to encourage whistleblowers to come forward with verifiable evidence, such as internal communications or trading logs.
The announcement comes amid renewed scrutiny of market maker behavior following recent allegations involving the token RIVER, which has been at the center of controversy over suspected price manipulation on several Asian exchanges. ZachXBT directly accused HSBG of involvement in RIVER's price manipulation earlier this year.
Market makers play a critical role in providing liquidity, but the line between legitimate activity and manipulation is thin. ZachXBT's initiative highlights a growing trend of independent investigators filling gaps left by under-resourced regulators. If successful, the bounty could force exchanges to tighten oversight or trigger regulatory action, ultimately improving market integrity for everyday traders.
