Coinbase will suspend trade in the movement’s moving token and refer to “recent reviews” following a Coindesk study of market development agreements, as experts said incentive pricing manipulation.

The token fell more than 13% on trade -out news, while the wider market meter Coindesk 20 -Index increased 4.4%.

Movement Labs is currently investigating how a market manufacturer may have accessed a significant number of its tokens, which were then dumped on retail investors, which got its price at tank. The market manufacturer, Web3Port, is displayed in contracts previously reported by Coindesk.

According to the Coindesk report, Movement Labs co-founder Cooper Scanlon staff last month told the company to investigate how the interest rate, as Movement thought was a subsidiary of web3port, got over 5% of Web3port’s Move-tokens.

According to contracts obtained by Coindesk, the interest rate had the ability to run all its tokens under certain circumstances that experts said could have created an incentive for the company to increase the token’s value.

Crypto Exchange Binance later banned Web3port, the market manufacturer, after $ 38 million in moving token in wallets tied to web3port was liquidated after Move’s Exchange debut.

Coinbase did not share many details of the trade pension, just announcing that it would do so on May 15 at 1 p.m. 14:00 Pacific Time (21:00 UTC).

Coinbase said it has already switched order books to “only limited state” to relocate tokens, which means trading is only performed at certain prices rather than a token’s spot price.

Read more: Inside Movement’s Token-Dump Scandal: Secret Contracts, Shadow Advisers and Hidden Middlemen

Update (May 1, 2025, 17:18 UTC): Adds additional context.