Movement Labs Suspends Co-Founder Amid MOVE Token Scandal

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The co-founder of the Rushi Manche Movement Laboratories suspended in the middle of the investigation.
Moving the tokens drops by 20% after the token-dumping scandal linked to web3port.
Coinbase indicates to Move Token; Binance had previously prohibited web3port.

Movement Labs, a blockchain infrastructure company, announced the suspension of its co-founder, Rushi Manche, on May 2, 2025. The decision comes in the midst of organizational surveys and a scandal involving a token spill that considerably affected the performance of the token market.

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In an official article on X (formerly Twitter), Movement Labs said:

“We confirm that Rushi Manche has been suspended from movement laboratories. This decision was made in the light of current events and, as third -party examination is still underway by Groom Lake concerning organizational governance and recent incidents involving a market market. ”

We confirm that Rushi Manche has been suspended from motion laboratories. This decision was made in the light of current events and, as third -party examination is still underway by Groom Lake concerning organizational governance and recent incidents involving a market market.

– Movement (@movementlabsxyz) May 2, 2025

Market fallout and response to exchanges

The suspension occurred after an overwhelming report presented by Media House that a web 3 market manufacturer had bought and sold more than 5% of the token of moving. This would have initiated a quick sale and a rapid drop in the price of moving, which allowed it to lose more than 20% in one day.

In response to the accusations, the big exchanges quickly evolved. Coinbase interrupted trade in the move, while Binance had previously prohibited Web3port From its platform, an indication of serious concerns concerning market manipulation and improving transparency in the distribution of tokens.

The move has been criticized since the incident was revealed. Market observers note the need for more strict compliance and monitoring mechanisms, in particular for emergence Blockchain projects with exposure to retail investors.

While movement laboratories cooperate with Groom Lake to finalize its internal examination, the wider crypto community closely monitors how the company manages governance and restores investor confidence.

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