Wlfi linked move and web3port, which in 38 million US

According to the Coindesk report, internal documents from Movement Foundation have registered the red flags in its market -sensitive shops. Co-founder Cooper Scanlon said that more than 5% of the moves tokens that were assigned to the China-based market manufacturer Web3port were led by a little-known unit called Rentech.

Shady contracts led to a 38 million dollar -Moving -token -waste dump

Scanlon said the foundation believed that Rentech was a subsidiary of Web3port, which was not the case. This arrangement led to an unusually large proportion of tokens by a single unit. The contract encompassed more than stipulations that incorporated a pump-and-dump scheme.

In particular, the contracts allowed Rentech to liquidate all moving tokens if the fully watered value exceeded 5 billion US dollars. At this point, Rentech would throw off all the tokens and maintain 50% of the profit, whereby the other 50% going to Movement Foundation.

This was exactly what happened on December 9, on the same day when the token started on Binance. According to the report, Web3port immediately liquidated its 66 million tokens worth around 38 million US dollars. This led to the token fell, and it continued after the start. Currently, 66 million moving tokens are worth only 15.7 million US dollars.

Both the Movement Foundation and Web3port have connections to Trump's world Liberty Financial. On January 28, Wlfi bought 3.42 million moving tokens for 1.5 million US dollars with $ 0.439, which has lost more than half of their value since then. In addition, web3port invested 10 million US dollars in Wlfi in January.