VLFI-LINKED MOVE AND WEB3PORT is meant in a 38 million dollar mch

Toward COINDESK REPORTInternal documents from the Movement Foundation marked red flag in its market offers. Co-founder Cooper Scanlon stated that more than 5% of the relocation token, which was assigned to the Chinese Web3port website, redirected through a few famous entity called Rentech.

Shady contracts have led up to $ 38 million to take the token token

Scanlon said that the Foundation led to believe that Rentech was a subsidiary of the Web3port, which was not the case. This arrangement resulted in an unusually large participation of tokens controlled by one entity. More about the contract involved a contract that encouraged the pump and landfill scheme.

In particular, contracts allowed Rentech to liquidate all its moves, if a completely diluted value exceeded $ 5 billion. At that moment, Rentech would be allowed to cast all the tokens and retain 50% of profits, and the other 50% go to the foundation of the movement.

That was exactly what happened 9. December, the same day when the token was launched on binance. According to the report, the Web3port immediately liquidated its 66 million tokens, at the time of about 38 million dollars. This caused the token to slammed and continued to fall after launch. Currently, 66 million shifts are worth 15.7 million dollars.

Both Foundations for Movement and Web3port have connections for the Trumps of World Freedom. 28. January, VLFI purchased 3.42 million tokens for $ 1.5 million, to $ 0.439, which have since lost more than half of their value. Moreover, Web3port invested $ 10 million In VLFI in January.