POPA Recon#MOVE #Bankruptcy #Web3 #TokenScandal ☠️
#MOVE #Bankruptcy #Web3 #TokenScandal ☠️ Movement Labs files for Chapter 11 - the token dump scandal ends in court Assets: $100k-$500k, liabilities over $1M. Less than 18 months after the Binance listing, the company behind Movement is bankrupt. 📉 The collapse traces to December 2024: a secret deal with market maker Web3Port allowed dumping 66M MOVE tokens the day after listing - $38M sold, price crashed. Binance blocked the market maker, co-founder Rushi Manche was fired, the company rebranded to Move Industries and pivoted to cross-border payments. It didn't help. Movement tried to out…
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