A massive scandal shakes the crypto world: Project $MOVE and the brokerage of the collapse
Imagine starting a crypto project with great enthusiasm, and at the moment of launch... the currency collapses by a huge percentage due to the sale of 66 million tokens in one go!
What happened with $MOVE is the biggest "pump & dump" scenario of this year:
A suspicious contract with a company called Rentech gave it complete control over the market.
The goal? To raise the price to $5 billion, then dump the tokens on small investors!
A direct link with the Chinese Web3Port, and the Binance platform later blocked the market maker accounts.
The result? A collapse from $5 billion to $400 million, an internal scandal, investigations against the founders, and a desperate attempt to regain investors' trust by repurchasing the tokens.
Is this just a failure? Or an internal scheme to profit at the expense of people?
The lesson? Even projects that seem "respectable" can have hidden hands playing behind the curtain...
Imagine starting a crypto project with great enthusiasm, and at the moment of launch... the currency collapses by a huge percentage due to the sale of 66 million tokens in one go!
What happened with $MOVE is the biggest "pump & dump" scenario of this year:
A suspicious contract with a company called Rentech gave it complete control over the market.
The goal? To raise the price to $5 billion, then dump the tokens on small investors!
A direct link with the Chinese Web3Port, and the Binance platform later blocked the market maker accounts.
The result? A collapse from $5 billion to $400 million, an internal scandal, investigations against the founders, and a desperate attempt to regain investors' trust by repurchasing the tokens.
Is this just a failure? Or an internal scheme to profit at the expense of people?
The lesson? Even projects that seem "respectable" can have hidden hands playing behind the curtain...
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
MOVE
0.2173
-4.52%
GALA
0.02169
-4.61%