Recently, CoinDesk published an article detailing my early involvement with the Movement project. This post aims to clarify the facts.
Before Movement was founded, I met Cooper in person at Vanderbilt University and proposed incubating a Move-based project, which eventually led to the creation of Satay—a yield aggregator I financially supported and helped launch.
When Cooper shifted focus to founding MVMT Labs (before Rushi joined the team), he relied on my advice and assistance in everything from fundraising to tokenomics to emotional support. I worked closely with Cooper to get Movement off the ground.
After Rushi joined Movement to lead the technical team, the project’s vision truly took shape. I gradually stepped back from my role as Cooper’s close advisor, focusing primarily on go-to-market (GTM) strategies. This led to a Memorandum of Understanding (MOU) drafted by @vannacharma and negotiated/signed by Cooper. As the project approached its Token Generation Event (TGE), I collaborated closely with Cooper again, particularly advising him on the upcoming airdrop proposal.
Cooper tasked me with finding a data science team to audit the testnet usage dataset for the airdrop, as the Movement team realized their data couldn’t accurately reflect actual testnet activity.
Movement Insider Reveals: Internal Team Created 75,000 Wallets to Dump MOVE Tokens
Due to numerous issues with the dataset, I advised Cooper to evenly distribute rewards among all airdrop participants. However, during this period, Cooper insisted on allocating the highest proportion of tokens to a specific group of 75,000 wallets.
Movement Insider Reveals: Internal Team Created 75,000 Wallets to Dump MOVE Tokens
These wallets can be tracked at https://move-token-tracker.vercel.app, where their distribution patterns are visible. Nearly all of these wallets successfully claimed and bundled over 60 million $MOVE tokens during the December 9th airdrop, then promptly dumped them. The heatmap below shows how these wallets were consolidated and sold off rapidly after claiming:
Movement Insider Reveals: Internal Team Created 75,000 Wallets to Dump MOVE Tokens
When we identified the issue with these 75,000 wallets during the claiming process, I again proposed equalizing rewards to mitigate Sybil attack (fake account) bundling and dumping. Instead, Cooper chose to increase the claiming fee, which made it nearly impossible for anyone except those 75,000 wallets to claim their airdropped tokens.
Movement Insider Reveals: Internal Team Created 75,000 Wallets to Dump MOVE Tokens
After the airdrop began, Cooper adjusted the claiming fee but notably did not apply the same increase to the 75,000 "core-galxe" wallets to curb Sybil activity.
When users found the claiming fee higher than their airdrop’s value, most opted to wait for a fee-free L2 launch to claim their tokens. The problem? The L2 didn’t go live within the planned 30-day window, leaving many users stranded.
The current narrative is false. Nearly three years ago, Cooper sought my help, and I invested significant time and effort to support Cooper, Rushi, and the team in making MVMT a success. In return, I’ve faced public attacks, lost opportunities, and seen my social capital eroded.
Over the past three years, I’ve dedicated immense energy to helping MVMT launch. To date, I’ve received no compensation, and MVMT has shown no intention of fulfilling its agreement to pay me the token rewards I rightfully earned.
