Movement Labs Suspends co-founder in the middle of the Making scandal market

Movement Labs has suspended the co -founder Rushi because he continues to examine a scandal in which one of his former market manufacturers are involved.

In a post on X of May 2, Movement Labs confirmed the suspension of some when an examination of third -party providers continues through GROOM LAKE. The move took place only a few hours after Coinbase announced that it would expose all the trading pairs for movements (MOVE) from May 15th, whereby he had not fulfilled the non -fulfillment of the listing standards.

While Coinbase did not explicitly cite manipulation, she had shifted to border mode before the decision. The dispute results from a token jar that took place in December, in which a market manufacturer allegedly sold 66 million moving tokens for an estimated winning of 38 million Tether (USDT).

In March Binance reported the problem, freezing the money and notifying the Movement Foundation and the Movement Labs. Rentech, the company behind the dump, was incorrectly presented as connected to Web3port. In reality, it seems to be an independent Shell unit without digital footprint.

According to the contracts that were infiltrated, Rentech reports more than 5% of the total offer of Move, and the conditions promoted the price inflation for an evaluation of $ 5 billion in front of a planned sale.

In order to limit the damage, the Movement Foundation ended its cooperation with the market manufacturer and promised a buyback of 38 million US dollars via a new reserve fund. The results of the independent examination will determine whether movement managers were directly involved in the system or were misled.

The Move -Move -Move will currently not be done at 0.19 USD and a decline of over 20% in the last 24 hours with an additional downward risk of USD 0.18. The Move/USDC diagram shows a clear downward trend that started at the end of March. After a short recovery, the token in the 20-day-gliding average, which is almost $ 0.24, was rejected.

The price promotion is still below all important moving average values, and the relative starch index is close to 32, which indicates that the bear impulse is still present. The volume spike, which shows that retailers react strongly to the latest news, gives you volatility already unstable. The credibility of the project now depends on transparency and the results of the ongoing review.