### **🚨 Coinbase Delist Token MOVE Due to $38 Million Scandal!**
#### **📌 Important Facts:**
- **Coinbase officially delists MOVE** starting **May 15** for **failing to meet listing standards**.
- **Trigger**: Alleged **market manipulation** by market maker **Rentech** who sold **$38 million MOVE** suddenly.
- **MOVE price crashed 73%** from ATH ($0.70 → $0.20).
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### **🔍 Chronology of the Scandal:**
1️⃣ **Problematic Market Maker**:
- **Rentech** (related to Movement Labs) allegedly **controls 5% of MOVE supply** → Large sell-off without warning.
- **Binance freezes $38 million funds** & blacklists Web3Port (Rentech affiliate).
2️⃣ **Response from Movement Labs**:
- Promised to **buy back dumped tokens** (but not yet realized).
- Compensation airdrop **delayed** → Community disappointed.
3️⃣ **Impact on Price**:
- **Dropped 20% in one day** after the delisting announcement.
- **Market cap fell below $500 million** (first time since launch).
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### **💀 Community Reactions:**
- **Movement Telegram chaotic**: Some angry calling it a **"scam"**, others grateful to be saved from loss.
- **Admin claims this is only a "suspension"** (not a permanent delist), but trust is already damaged.
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### **⚠️ Lessons for Investors:**
✅ **Investigate the background of market makers** before investing.
✅ **Beware of projects with unusual volume** (pump & dump risk).
❌ **Don't FOMO** when there's an airdrop promise of compensation.
**#Move #coinbase #Cryptoscam #MarketManipulation **
💬 **What do you think?** Can MOVE recover or is this the end of the story? Comment below! 👇
