The Movement incident this time is indeed spectacular, CoinDesk reported the whole matter clearly. A few key points:
1. Web3Port/Rentech's operations as market makers are quite outrageous, turning public protocol liquidity support into a $38 million dump, which directly led to Binance banning trading. Such operations can actually be written in black and white in contracts, making risk control virtually non-existent.
2. Sam Thapaliya has once again been exposed for past operations, similar issues were present during the Eclipse period. It seems that the label of a VC cryptocurrency serial entrepreneur is not given for free.
3. The most ironic thing is that Movement actually claims to be a victim, but internal documents and sources indicate otherwise. This play of being both the referee and the athlete is truly common in the crypto space.
Ultimately, the project has structural issues from the very beginning. The invisible control of behind-the-scenes figures like Rushi and Garen, combined with the market makers' antics, essentially constitutes a meticulously designed harvest. Ordinary investors participating in such projects are essentially just giving away money.