by: xpoolPosted on:

WLFI-Linked MOVE Token Dump: Scandal Rocks Web3Project and Binance

A recent scandal involving the MOVE token, backed by the World Liberty Financial (WLFI) group, has exposed a potential pump-and-dump scheme orchestrated by the Movement Foundation and its partner Web3Port. Documents reveal a 66 million token dump shortly after the MOVE token’s listing on Binance, leading to a $38 million loss for investors. The scandal centers around a loan agreement between the Movement Foundation and Web3Port that allowed a large portion of MOVE tokens to be concentrated in one entity: Rentech. This arrangement was further complicated by contracts that incentivized a dump when the token’s price exceeded a certain threshold.

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