Sam is CoinDesk's deputy managing editor for tech and protocols. He reports on decentralized technology, infrastructure and governance. He owns ETH and BTC.
Movement Labs, a blockchain company that aims to bring Facebook's Move Virtual Machine to Ethereum, has secured $38 million in a Series A financing round led by Polychain Capital.
"Security has never been a priority for the industry," Manche said in an interview."It's always, like, '$100 million hack,' '$20 million attack' – we're so succumbed and numb to the attack issue when in reality, that's a huge issue for retail." "Between 2022 and 2023, hackers exploited smart contracts for over $5.4 billion, affecting major protocols like Curve and KyberSwap through common reentrancy attacks," Movement explained in a statement."Movement’s EVM allows Move and Solidity developers to deploy code that is fully verified at runtime, preventing attack vectors like reentrancy from executing."
"To me, it was like, okay, Facebook, the biggest consumer app, they're all trying to get on-chain. They're doing this new initiative, new language, new VM. So I started digging," said Manche.Before discovering Move, Manche says he experimented with crypto in college, mostly in the Cosmos blockchain ecosystem. Cooper was the first of the pair to build using Move – creating a yield aggregator for Aptos.
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