CoinVoice has recently learned that Binance announced that it has found a connection between one of the market makers of the Movement (MOVE) project and another market maker that was recently banned from continuing market-making activities on the platform due to misconduct.

According to the announcement, the abnormal behavior of this market maker includes: one day after the listing of MOVE (2024-12-10), this market maker sold approximately 66 million MOVE tokens, while there was almost no buy support. Before the cooperation was terminated by Binance on 2025-03-18, this market maker had gained approximately 38 million USDT in net profit.

To protect user interests, Binance has taken the following measures:

Notified the Movement Labs and Movement Foundation teams about the abnormal behavior of their market maker; froze the earnings of this market maker for subsequent user compensation (the specific compensation plan will be determined and announced by the project party later); terminated cooperation with this market maker and prohibited any further market-making activities on the Binance platform. [Original link]