On March 25th, Binance announced new measures addressing market violations linked to the Movement (MOVE) project. Following scrutiny, the exchange confirmed its suspicions about a market maker associated with another recently banned market maker. Notably, on December 10, 2024, this entity offloaded approximately 66 million MOVE tokens amidst a conspicuous lack of buy orders, resulting in a net gain of 38 million USDT before exiting the market on March 18, 2025.
In response to this misconduct, Binance has implemented several protective strategies. First, the Movement Labs and Movement Foundation have been alerted about the violations. Additionally, the market maker’s earnings have been frozen, and the MOVE team plans to utilize these funds for user compensation. The offending market maker has been officially delisted and is prohibited from future activities on the Binance platform.
Authorized market makers on Binance are expected to maintain integrity by placing simultaneous buy and sell orders, ensuring adequate volume at set depths, and facilitating stable market conditions. Binance will continue to enforce these regulations strictly to protect users and ensure a secure trading environment.