Binance has taken action against a market maker of the project Movement (MOVE) due to market irregularities.
Binance has identified a market maker of the project Movement (MOVE) to have association with another market maker that Binance recently offboarded and forbid any further market making activities on Binance due to misconduct.
Certain market making behavior of the Market Maker include:
- One day after MOVE was listed, approximately 66 million MOVE tokens were sold by the Market Maker on 2024-12-10 (UTC), with little buy orders.
- The Market Maker had an eventual net profit of 38 million USDT before it was offboarded on March 18, 2025.
Due to the Market Maker’s behaviour, for the purpose of best protecting Binance’s users, Binance has taken additional steps, including:
- Informed the Movement Labs and Movement Foundation teams of the irregularities with their market maker;
- Froze…
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