On May 15, according to CoinDesk, Movement Labs was exposed for secretly promising to allocate up to 10% of MOVE token supply to two "shadow advisors" through an undisclosed memorandum of understanding. Leaked internal documents showed that Movement Labs promised tokens worth over $50 million to Sam Thapaliya and Vinit Parekh, and these transactions were never disclosed to investors or the public.
BlockBeats previously reported that the abnormal sale of 66 million MOVE tokens may be self-trading by the intermediary Rentech.