# Movement Labs Suspends Co-Founder Amid Token Dumping Scandal

*Author: Bankless*
*Published: May 2, 2025*
*Source: https://www.bankless.com/fr/read/movement-labs-suspends-co-founder-amid-token-dumping-scandal*

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Movement Labs suspends its co-founder over allegations of token dumping, sparking a significant price drop for the MOVE token and heightened scrutiny over governance practices.

## **What’s the Scoop?**
- **Co-Founder Suspended**: Movement Labs has suspended Rushi Manche, co-founder of Movement Network, due to allegations surrounding an illegitimate market-making scandal.
- **Token Dump Allegations**: A market-making entity allegedly dumped $38 million of MOVE tokens shortly after their public airdrop in December, tanking the token's value.
- **Third-Party Investigation**: Movement Labs hired Groom Lake to conduct a third-party review on governance and the market maker's role in the controversy.
- **Token Price Plunge**: MOVE token has seen a steep 22% drop in value within the past 24 hours, now trading at $0.1960—86% below its December highs.
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