Movement Labs Files for Chapter 11 Bankruptcy
Movement Labs, developer of the Movement Blockchain and $MOVE token, filed for Chapter 11 bankruptcy in Delaware. The filing follows a token dumping scandal that eroded community trust, with the company reporting assets of $100K–$500K against liabilities of $1M. The project's fully diluted valuation collapsed from an all-time high of $11B to $107M.
Detected & updated continuously · Source: Nebula
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Movement (move)Sources
@raremints_
🪓 Movement Labs, the developer behind the Movement Blockchain and $MOVE token, has filed for bankruptcy. https://t.co/oqEGkAexGQ
@BenX_HQ
Movement Labs has filed for Chapter 11 bankruptcy following a token dumping scandal that eroded community trust over a brutal year. The Move-based Ethereum Layer 2 never recovered from the reputational damage. $MOVE https://t.co/zydTGs3ats
@CryptoTeluguO
😲 @movementfdn Files for Chapter 11 Bankruptcy 💰It's ATH FDV was $11B 📈Marketcap- $3B 📉FDV Now- $107M 💸Company assets- $500K 🏦Liabilities- $1M 🤔They don't have $1M??looks strange 😳Where did $40M raised fund go? 😳Wt about team tokens go? 🤷Wt do u think? 💙Like 🔁RT https://t.co/4j3vYBzYFc
@zippy257
Looks like $MOVE has reached its final chapter. Movement Labs has officially filed for Chapter 11 bankruptcy protection in Delaware. According to court filings, the company has only around $100K–$500K in assets, while liabilities have climbed to $10M, with nearly 299 creditors. https://t.co/o8K2qQJKZB
@THChumor
🚨🚨JUST IN: Movement Labs $MOVE has filed for Chapter 11 bankruptcy.
@CryptoDuck_TH
Movement Labs ผู้พัฒนา Movement ยื่นขอล้มละลายแล้ว หลังบริษัทหนี้ท่วมจากเหตุอื้อฉาวที่โทเค็น $MOVE ดิ่งหนัก และดราม่าไล่ CEO คนเก่า (Rushi) ออกปีที่แล้ว โดยในรายชื่อเจ้าหนี้ มีชื่อ Rushi รวมอยู่ด้วย ส่วน Torab - CEO ปัจจุบัน ชี้แจงว่า MVMT Labs