Movement: Noting Reports of Improper Market Making Protocol Leading to 66 Million Token Dump, Undergoing Detailed Review

Blockbeats
30 Apr

BlockBeats News, April 30th, Movement Labs issued a statement stating that they have noticed the "Improper Signing of Market-Making Agreement Resulting in Intermediary Rentech Gaining Control of 66 Million MOVE Tokens" related report.

Movement Labs and Movement Network Foundation have engaged a third-party crypto asset intelligence agency, Groom Lake, to conduct a thorough review of the market maker's abnormal situation. Groom Lake's review work is still in progress, and once all details are obtained, the investigation results will be shared, and governance reforms will be made based on the review results.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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