Altcoin Plunge Sparks Insider Scrutiny: Massive $38 Million Liquidation Raises Concerns

A sudden and massive sell-off of the Movement (MOVE) token, resulting in an overnight liquidation worth $38 million, has left investors concerned and triggered a wave of scrutiny. Investigations have now focused on Rentech, a little-known broker that played a key role in this incident. Documents obtained by CoinDesk reveal internal discrepancies regarding the arrangement between Movement Labs and Rentech. This is particularly concerning as reports suggest a potential self-dealing scenario where Rentech had broad access to significant portions of MOVE’s circulating tokens.