Movement Labs, the developer behind the MOVE blockchain, has filed for Chapter 11 bankruptcy — months after a market-making scandal and a strategic overhaul gutted the project.

The filing lists under 1,000 creditors, $100K–$500K in assets and over $1M in liabilities under a Subchapter V small-business restructuring. It caps a fall from a ~$3B valuation, with MOVE down roughly 99%. The 2025 scandal saw a market-making deal dump 66M MOVE, crashing the price and prompting a Coinbase suspension. CEO Torab Torabi says separate entity Move Industries keeps running the network normally.