ZachXBT warns RAIN linked to projects tied to alleged scammer

On-chain analyst ZachXBT has warned investors to be cautious of Rain Protocol (RAIN), a prediction market project whose market capitalization recently surged to $8.8 billion. In a Telegram channel post, ZachXBT stated that RAIN's price has soared despite a lack of real users, suggesting potential manipulation. He added that the team's addresses and funding sources are connected to past projects with fraud allegations, including TOMI, Data Ownership Protocol, Sirin Labs, and Gems. These projects are also linked to Moshe Hogeg, an Israeli national who has faced accusations of being a scammer, according to the analyst. ZachXBT noted that these previous projects disappeared after announcing they had been acquired by other platforms. "Any investors looking at RAIN should be extremely careful," he explained. RAIN's price has risen from around $0.007 on May 25 to its current level of $0.014.