Movement Labs exposed for allocating up to 10% of MOVE tokens to two 'shadow consultants'

BlockBeats news, on May 15, according to CoinDesk, Movement Labs was reported to have secretly committed to allocate up to 10% of the MOVE token supply to two 'shadow consultants' through an undisclosed memorandum of understanding. Leaked internal documents show that Movement Labs promised tokens worth over $50 million to Sam Thapaliya and Vinit Parekh, and these transactions were never disclosed to investors or the public.

According to previous reports from BlockBeats, the abnormal sale of 66 million MOVE tokens may be due to the intermediary Rentech's self-trading.